Business, 11.02.2021 21:10 jenn8055

Corporation purchased inventory costing and sold % of the goods for . All purchases and sales were on account. later collected % of the accounts receivable. 1. Journalize these transactions for Bridget, which uses the perpetual inventory system.
2. For these transactions, show what Bridget will report for inventory, revenues, and expenses on its financial statements at the end of the month. Report gross profit on the appropriate statement.
1. Journalize these transactions for , which uses the perpetual inventory system.
Journalize the purchase of inventory. (Record debits first, then credits. Exclude explanations from any journal entries.)
Journal
Accounts Debit Credit
Accounts Receivable 180,000
Cost of Goods Sold 235,000

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Corporation purchased inventory costing and sold % of the goods for . All purchases and sales were...