Bb Comprehensive Assignment #3 - x Bb Comprehensive Assignment 3.pd X + V X > C a learn.myloyalist.com/bbcswebdav/pid-1967417-dt-content-rid-13770761_1/courses/202201_ACCT1010_5699/Comprehensive%20Assignment%203.pdf m E Comprehensive Assignment 3.pdf 1 / 1 100% + Possible Marks: 40 Due Date/Time: Monday, April 4, 2022 by 5:00 pm Weight of Final Mark: 5% Aster Systems In response to the request of customers, Aster Systems has decided to begin selling computer software. The company will extend credit terms of 1/10, n/30 to customers who purchase merchandise. No cash discount will be available on consulting fees. Required: Prepare journal entries to record each of the following transactions for Aster Systems, assuming a Perpetual Inventory System. Date Details Jan 7 Purchased $8,500 of merchandise from LedCor with terms of 1/10, n/30, FOB shipping point. 11 Completed five-day project for Kinsetta Groceries and billed them $3,500, which is the total price of $6,500 less the advance payment of $3,000 13 Sold merchandise with a retail value of $6,000 and a cost of $4,800 to Starbust Inc. with terms of 1/10, n/30, FOB shipping point. 15 Paid $375 for freight charges on the merchandise purchased on January 7. 16 Received $3,800 cash from Sharp Co. for computer services performed today. 17 Paid LedCor for the purchase on January 7. 20 Starburst Inc. returned $600 of defective merchandise from its purchase on January 13. The returned merchandise, which had a cost of $500, was scrapped. 22 Received the balance due from Starburst Inc. Once you are ready to complete the questions, please log into Blackboard and navigate to the Assessments Section. Select the Comprehensive Assignment #3 Folder. Within the folder will be the Assessment; this location is where you answer the questions. ofi ENG 23:23 IN 30-03-2022 1