Using the information in M6-5, prepare journal entries to record the inventory transactions, assuming Anderson’s uses a perpetual inventory system.
Info M6-5
Assume Anderson’s General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $ 23,000. If the company was charged $ 650 in transportation cost by National Trucking, immediately returned goods to American Wholesaling costing $ 1,200, and then took advantage of American Wholesaling’ s 2/10, n/30 purchase discount, how much did this inventory cost Anderson’s