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show calculations also Assignment#6-Handwritten home assignment Please make entries for the inventory transactions under perpetual system and also indicate what Journal it is for each
show calculations also
Assignment#6-Handwritten home assignment Please make entries for the inventory transactions under perpetual system and also indicate what Journal it is for each entry 1) Sept1 sold inventory to JenAir for $6000 ( cost is $4200) term 2/10, n/30 2) Sep2, business purchased $3,000 merchandise inventory from Skylimit Inc. Term 1/10, n/30 FOB 3) Sep3 business paid the delivery cost 5430 for shipping the Sep1 inventory to JenAir 4) Sep4 Skylimit sent a $250 debit memo to business for the Sep2, 2020 Inventory purchase. 5) Sept9 sold inventory to Dennis for $1800 ( cost of sales $1500) Terms: 2/15, n/30 6) Sept13, busines collected amount from JenAir in full 7) Sep 12, business paid Skylimit in full 8) Sep 14, business bought $5,500 from PacificEast Inc. Terms: 2/5, n/30 FOB 9) Sep 15, business issued a credit memo $375 to Dennis for the Sep9 inventory sales 10) Sep21, business paid Pacifice East in full 11) Sept24, collected amount owing from Dennis
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