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    paris 8's Avatar
    paris 8 Posts: 1, Reputation: 1
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    #1

    Feb 27, 2010, 01:37 PM
    How to journalize puprchase and sale transaction on perpetural inventory
    My homework question is this.. I have to journalize purchase and sale transactions - perpeptual inventory.. I have a list of purchased items, some on credit terms, some returned, some sold.. cash received,. I don't know how to put it in journal format. Thanks for any help. Kathleen
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Feb 28, 2010, 12:21 AM

    You've just asked a chapter's worth of questions. I would hope your textbook has examples of these but here's a link to an online textbook:
    Principles of Accounting Chapter 5

    I linked directly to the perpetual section but there may be stuff above it you need as well.

    If you're confused over things, you need to ask more specific questions so that we can narrow it down. (Also keeping in mind our guidelines about posting homework -- that is, we don't do it for you so we need to see your attempts at the problem.)
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