The Black Electric Company uses the perpetual inventory system. Record these transactions in a two-column journal. 201X
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The Black Electric Company uses the perpetual inventory system. Record these transactions in a two-column journal.
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201X 3 Purchased 10 Model 77 DX light fixture(s) on account from Flashing Electric at total cost of $400; terms n/30. Feb. 5 Sold 8 model U67 light fixtures for cash for $224 total. The cost of these 8 fixtures amounted to $144. 6 Our customer returned 5 model U67 light fixture(s). We gave the customer a $140 cash refund. 10 We issued a debit memo for $80 to Flashing Electric for 2 model 77 DX light fixture(s) that came in damaged in the shipment of February 3.
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College Accounting A Practical Approach
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14th Edition
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