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A company has the following transactions during March: March ...

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Accounting

A company has the following transactions during March:

March 3 Purchases inventory on account for $3,600, terms 2/10, n/30.
March 5 Pays freight costs of $300 on inventory purchased on March 3.
March 6 Returns inventory with a cost of $500.
March 12 Pays the full amount due on March 3 purchase.
March 29 Sells all inventory purchased on March 3 (less those returned on March 6) for $5,300 on account.

Record all transactions, assuming the company uses a perpetual inventory system. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)

Journal entry worksheet

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