Business, 23.06.2020 22:01 ugtguytu8528

Gift Shop uses a perpetual inventory system. Journalize the following transactions for Trudie's TrinketsGift Shop. Explanations are not required. â€‹(Record debitsâ€‹ first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount. Round all numbers to the nearest wholeâ€‹ dollar.)Feb. 3 Purchased $3,000 of merchandise inventory on account under terms 1/10, n/EOM and FOB shipping point. 7 Returned $400 of defective merchandise purchased on February 3. 9 Paid freight bill of $500 on February 3 purchase. 10 Sold merchandise inventory on account for $4,400. Payment terms were 3/15, n/30. These goods cost the company $2,200. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. 28 Received cash from February 10 customer in full settlement of their debt.

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Gift Shop uses a perpetual inventory system. Journalize the following transactions for Trudie's Trin...