Prior company buys merchandise on account from wood company. The selling price of the goods is $900 an the cost of goods is $630. Both companies use perpetual inventory systems. Journalize the transactions on the books of both companies. Prior company account/description debit credit wood company account/description debit credit (to record sale) (to record the cost of inventory)

Why take accounting and not learn it properly? We don't do your homework much less journalize it for you. Think about credits and debits and who has what.