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!!
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!!