Fanzi Furniture Company engaged in the following transactions during March of the current year:
March : Purchased store supplies on credit terms of eom, $ before taxes
March : Purchased inventory of $ plus a freight charges of Credit terms
March : Returned damaged goods purchased on March :$ before taxes
March : Sold goods on credit terms $ Fanzi,s cost of these goods was $
March : Received returned inventory from March sale : $ before taxes
March : Paid supplier for the goods purchased on March
March : Received $ in partial settlement of the Mach
March : Received and paid the electricity bill : $ before taxes
Required
Journalize the preceding transactions, with the sales taxes, on the books of Fanzi Furniture Company. The company uses the perpetual inventory system. Give short explanations
Suppose the balance in inventory was $ on March What is the balance in inventory on March
