Coffee Scene has the following transactions regarding inventory for October 2023: (ignore VAT) ...
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Accounting
Coffee Scene has the following transactions regarding inventory for October 2023: (ignore VAT)
Bought inventory cash for R40 000
Sold inventory cash for R25 000, the cost price was R20 000
Bought inventory on credit for R35 000
Returned to supplier inventory with value of R3 000
Sold inventory on credit for R18 000, cost price was R15 000
Received goods back from a customer to the value of R 5000, cost price was R4 000.
Required: Enter the transactions and account names (where not given) into the general ledger of Coffee Scene using the periodic inventory system. DR Account Name CR
DR Bank CR
DR Account Name CR
DR Sales CR
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