Prepare the journal entries to record these transactions on Kingbird Kingbirdbooks under a perpetual inventory system. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

(a)		On March 2, Horst Company sold $928,900 of merchandise to Bernadina Company, terms 3/10, n/30. The cost of the merchandise sold was $547,700.
(b)		On March 6, Bernadina Company returned $106,100 of the merchandise purchased on March 2. The cost of the merchandise returned was $63,770.
(c)		On March 12, Horst Company received the balance due from Bernadina Company

Answer rating: 100% (QA)

a Date Particulars LF Amount Amount March 2 Merchandise Inventory 928900 Accounts PayableHorst Com... View the full answer