Question

The following sales-related transactions for Beautiful Decor, Inc. occurred during the month of April.
Apr 3 Sold $3,600 (cost $1,700) of merchandise on account to A. Klecans, terms 3/15, n/45, FOB destination.
4 Paid $75 to ship the goods sold on April 3 to A. Klecans.
10 Sold $2,700 (cost $1,200) of merchandise to cash customers.
17 Received payment in full from A. Klecans for the April 3 sale.
22 Sold $5,100 (cost $2,500) of merchandise to M. Perez, terms 2/10, n/30, FOB shipping point.
26 Granted M. Perez a $200 allowance on the April 22 sale due to minor defects in the goods shipped.
30 Received payment in full from M. Perez for the April 22 sale.
Requirement
Journalize all necessary transactions for Beautiful Decor, Inc. using
(1) The perpetual inventory system,
(2) The periodic inventory system. Omit explanations.


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  • CreatedJuly 08, 2015
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