View Policies

Current Attempt in Progress

Prepare the journal entries to record the following purchase transactions in Sarasota Inc's books. Sarasota uses a perpetual inventory

system. $($List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent

manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. Record journal entries in the order

presented in the problem.$)$

Jan. $2$ Sarasota purchased goods for $$38,700$ from Fundy Corp, terms $\frac{n}{45},$ FOB destination.

$5$ The appropriate company paid freight costs of $$780.$

$6$ Sarasota returned $$5,160$ of the goods purchased on January $2,$ because they were not needed.

Feb. $11$ Sarasota paid the balance owed to Fundy.

eTextbook and Media

List of Accounts