• Darla's Dresses uses the perpetual inventory system.$7-1$: DD purchases a dress on account from Valentino for $$20,000$ cash. The delivery terms are FOB Shipping Point.$-$$7-1$: Pay delivery charges in cash, $$2,000.$$7-15$: Sparrow Smith purchases the dress for $$35,000$ cash.Record the transactions in the journal.Hallie's Handbags uses the perpetual inventory system.$1-1$: Haley's Handbags purchases a handbag for $$10,000$ on account from Louis Vuitton. The payment terms are $\frac{2}{10}/\frac{\mathrm{????}}{30},$ and the delivery terms are FOB Destination.$1-5$: DD pays the Louis Vuitton Payable in cash.$1-18$: Thea Trevor Purchases the handbag for $$17,000$ cash.Required: Prepare the Journal Entries.Gemma's Gowns uses the perpetual inventory system.$7-1$: GG purchased a gown from Vera Wang on Account for $$20,000.$ The payment terms are $\frac{2}{10}/\frac{\mathrm{????}}{30}.$ The shipping terms are FOB Shipping Point.$7-1$: Pays shipping costs in cash $$1,000$$7-17$: Pays bill to Vera Wang in cash.$7-22$: Tara Taylor purchases the Gown for $$30,000$ cashRequired: Record the Journal entries.

  

 

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Journal Entries for Darlas Dresses Date 71 Account Purchases Debit 20000 Account Accou... View the full answer