accounting

Project Description:

matlock company uses a perpetual inventory system. its beginning inventory consists of 68 units that cost $41 each. during june, the company purchased 203 units at $41 each, returned 8 units for credit, and sold 169 units at $68 each. journalize the june transactions.




description/account

debit

credit



cost of goods soldinventoryaccounts receivableaccounts payablesales







accounts payableinventoryaccounts receivablesalescost of goods sold







(to record inventory purchased.)







inventorysalesaccounts receivablecost of goods soldaccounts payable







cost of goods soldaccounts payableinventoryaccounts receivablesales







(to record inventory returned.)







accounts payableinventoryaccounts receivablesalescost of goods sold







cost of goods soldaccounts payablesalesinventoryaccounts receivable







(to record inventory sold.)







accounts payableaccounts receivablecost of goods soldinventorysales







inventorysalesaccounts payableaccounts receivablecost of goods sold







(to record cost of goods sold.)
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Price Type: Negotiable

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