Question: Can you help with the accounting exercise? It is about the journal using the Perpetual Inventory System. Notes: A - transaction from day 9 is

Can you help with the accounting exercise? It is about the journal using the Perpetual Inventory System.

Notes:

A - transaction from day 9 is a full purchase.

B - On the 31st there are three accounts and the discounts must be applied.

Can you help with the accounting exercise? It is about the journal

ANALYZE THESE TRANSACTIONS PURCHASE AND SALE OF ROYAL TOWN MOTORS COMPANY. USE THE PERPETUAL METHOD. IDENTIFY EACH TRANSACTION; FOR EXAMPLE; (ACCOUNTS PAYABLE, CASH, INVENTORY, COGS. ETC.) 1 9 10 11 THE COMPANY SELLS A CREDIT OF $ 80,000 IN GOODS TO PACTOP CO, COST OF THE GOODS IS $ 55,000. THE PACTOP CO. INVOICE IS CHARGED. $ 15,000 IS PURCHASED FROM THE COMPANY INSTALLACIONES SMITH, 2/10, N/30. $ 25,000 IS SOLD IN MERCHANDISE, TO THE CUSTOMER DOUGLAS IN CASH. COST OF THE GOODS $ 12,000. $ 600 IS SOLD TO CLIENT ELLEN, TERMS 1/10, N/30. COST OF MERCHANDISE $ 150. PAY FULL FOR THE PURCHASE OF DAY 9. CUSTOMER ELLEN'S DAY 11 TRANSACTION IS CHARGED FULL SELL S 5,000 IN BAYWATER GOODS, TERMS 1/10, N/30, COST OF GOODS $ 2,500. BAYWATER RETURNS $ 500 FOR DEFECTIVE MERCHANDISE. COST OF MERCHANDISE $ 250. 13 15 17 19 28 BAYWATER PAYS THE DUE BALANCE. 29 $ 500 OF GOODS IS PURCHASED FROM ANA LAYTON, TERMS 1/10, N/30. 30 $ 100 OF GOODS RETURNED TO ANA LAYTON FOR FAILURE TO COMPLY WITH PURCHASE SPECIFICATIONS. 31 THE DUE OF THE TRANSACTION OF THE DAY 29 IS FULLY PAID

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