You must not use the Purchase expense account at any time You must verify each of the closures when making them and be very careful. This is my final grade and I have sent the question several times and it has been answered wrong and I have not obtained the correct grade. Also I will not rate you well if this goes wrong.

Part 1. Read the following case, make the wage entries UNDER THE PERPETUAL SYSTEM and the process of recording the transactions (posting) in the individual account book (ledger).

Miguel Vega has a music equipment sales business called Music Sound. During the month of February the following transactions occurred:

use the following accounts:

101 Cash

102 Inventory of merchandise

103 Accounts receivable

201 Accounts Payable

301 Miguel Vega, Capital

401 Sales

402 Returns on sales

403 Sales Discounts

501 Cost of goods sold

Date Transactions 2 $ 10,000 worth of speakers were purchased to sell at the business outside of the discount period 4 Of the speakers purchased on Day 2, 4 were returned at a cost of $ 500 each to the seller because they were damaged. 6 20 amplifiers were purchased for sale on credit with a value of $ 4,000 with a payment term of 2/10 n / 30. 10 A sale was made to a customer of 5 amps for $ 2,000. The cost of the merchandise is $ 500 12 The payment of the purchase of the day 6 was made in full. 15 Music Sound made a $ 5,000 credit sale to a customer with a term of 3/10 n / 30. The cost of the merchandise was $ 2,500. 18 The customer who purchased merchandise on the 15th returned $ 500 worth of merchandise because it was defective. The cost of the merchandise is 250. 20 The customer who made the purchase on the 15th paid in full with the corresponding discount