Prepare journal entries to record each of the following transactions of a merchandising company. The company uses a perpetual inventory system and the gross method.
April Purchased $ of merchandise. Terms of the sale are
April Returned defective units with a cost of $ and received full credit.
April Paid the amount due, minus the return.
Journal entry worksheet
Paid the amount due, minus the return.
Note: Enter debits before credits.
tableDateGeneral Journal,Debit,CreditApril Accounts payable,Merchandise inventory,,Cash,,
