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What do I have to say intstead of inventory? it is the only thing I am getting wrong and I do not have the option
What do I have to say intstead of inventory? it is the only thing I am getting wrong and I do not have the option of merchandise inventory.
At the beginning of the current season on April 1, the ledger of Flint Hills Pro Shop showed Cash $ 2,500 ; Inventory $ 3,500 ; and Common Stock $ 6,000 . The following transactions occurred during April 2014. Journalize the April transactions using a periodic inventory system
Apr. 5 Purchased golf bags, clubs, and balls on account from Akers Co. $1,500, terms 3/10, n/60 7 Paid freight on Akers Co. purchases $80 9 Received credit from Akers Co. for merchandise returned $ 200 10 Sold merchandise on account to members $ 1,340,terms n/30 12 Purchased golf shoes, sweaters, and other accessories on account from Palmer Sportswear $830, terms 1/10, n/30 14 Paid Akers Co. in full 17Received credit from Palmer Sportswear for merchandise returned $ 30 20 Made sales on account to members $ 810,terms n/30 21 Paid Palmer Sportswear in full 27 Granted credit to members for clothing that did not fit properly $ 80 Received payments on account from members $ 1,220Step by Step Solution
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