question archive Please make entries for the inventory transactions under perpetual system 1) Sept1 sold inventory to JenAir for $6000 ( cost is $4200) term 2/10, n/30 2) Sep2, business purchased $3,000 merchandise inventory from Skylimit Inc
Please make entries for the inventory transactions under perpetual system 1) Sept1 sold inventory to JenAir for $6000 ( cost is $4200) term 2/10, n/30 2) Sep2, business purchased $3,000 merchandise inventory from Skylimit Inc
Subject:BusinessPrice: Bought3
Please make entries for the inventory transactions under perpetual system 1) Sept1 sold inventory to JenAir for $6000 ( cost is $4200) term 2/10, n/30 2) Sep2, business purchased $3,000 merchandise inventory from Skylimit Inc. Term 1/10, n/30 FOB 3) Sep3 business paid the delivery cost $430 for shipping the Sep1 inventory to JenAir 4) Sep4 Skylimit sent a $250 debit memo to business for the Sep 2, 2020 Inventory purchase. 5) Sept9 sold inventory to Dennis for $1800 ( cost of sales $1500) Terms: 2/15, n/30 6) Sept13, busines collected amount from JenAir in full 7) Sep12, business paid Skylimit in full 8) Sep14, business bought $5,500 from Pacific East Inc. Terms: 2/5, n/30 FOB 9) Sep15, business issued a credit memo $375 to Dennis for the Sep9 inventory sales 10) Sep 21, business paid PacificeEast in full 11) Sept24, collected amount owing from Dennis
