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KAT4
Feb 5, 2007, 09:21 PM
Can someone please help me write these journal entries for a company using the periodic inventory system? Thanks

Purchased $19,000 worth of inventory on account.

Sold goods on account for $21,000 and made cash sales of $18,800.

Credited customer accounts for $2,520 of merchandise returned.

Received $18,200 from customers for sales made previously on account.

Thanks for your help!!

soni ba
Aug 29, 2007, 11:03 AM
If it is not given opening stock we onlay havr purchases and closing how will we find cost of goods sold

soni ba
Aug 29, 2007, 11:07 AM
A company sold goods for rupees 60,000 for 5/10 n/60 how this entry will b made in perpetul and period inventory system