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  3. 1. on january 1, dunelm store had an inventory of

1. On January 1, Dunelm Store had an inventory of 35 wallclocks at a cost...

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Accounting

1.

On January 1, Dunelm Store had an inventory of 35 wallclocks at a cost of $300

each. In that month the following transactions occurred-

JAN 4. Purchased 30 wallclocks at a cost of $350 each from Hudson Company, terms

1/10, n/30.

JAN 6 Sold 25 wallclocks to Zaika store for $450 each, terms 2/10, n/30.

JAN 7 Received credit from Hudson Company for the return of 3 defective wallclocks.

JAN 13 Issued a credit slip to Zaika store for the return of a defective wallclock.

JAN 14 Paid Hudson Company in full, less discount.

Prepare the journal entries under perpetual inventory system for Dunelm Store. Marks 10

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