Question about perpetual inventory:
A company had the following transactions:
April 5: Sold $4000 of inventory on account. Inventory costs $100. 2/10, n/30
April 9: Inventory returned and a $50 credit was sent back to the customer's account. The inventory that was returned cost $35.
April 14: Received payment for amount owed.
Create journal entries for these transactions.
Dates | Account Titles | Debits | Credits |
4/5 | |||
4/9 | |||
4/14 | |||
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