Question

Dawson Enterprises uses the perpetual system to record inventory transactions. In a recent month, Dawson engaged in the following transactions:
a. On April 1, Dawson purchased merchandise on credit for $25,150 with terms 2/10, n/30.
b. On April 2, Dawson purchased merchandise on credit for $28,200 with terms 3/15, n/25.
c. On April 9, Dawson paid for the purchase made on April 1.
d. On April 25, Dawson paid for the merchandise purchased on April 2.
Required:
Prepare journal entries for these four transactions.


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  • CreatedSeptember 22, 2015
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