Question: answer this question pls Given the following, prepare the entries that both the purchaser and seller should record for these transactions. Assume both companies use

answer this question pls Given the following, prepare the entries that

answer this question pls

Given the following, prepare the entries that both the purchaser and seller should record for these transactions. Assume both companies use a perpetual inventory system. a. January 5: Star Inc.'s merchandise that cost $2,800 was sold to Weber Inc. for $3,500 under credit terms of 2/15,n/60, FOB shipping point. b. January 23: Weber Inc. received a $700 credit memorandum from Star Inc. acknowledging the return of defective merchandise. c. January 27: Weber Inc. paid Star Inc. the balance due. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan ). Please use the ' + ' and '-' buttons to change the number of accounts (if necessary) for each journal entry. a) Weber Inc. b) Star Inc

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