Question: Journalize the Apple transactions using a perpetual inventory system, also including date, account titles and exclamations, debit or credit Pronghorn Hagen, a former disc golf
Journalize the Apple transactions using a perpetual inventory system, also including date, account titles and exclamations, debit or credit
Pronghorn Hagen, a former disc golf star, operates Pronghorn's Discorama. At the beginning of the current season on April 1, the ledger of Pronghorn's Discorama showed Cash $1,900, Inventory $2,200, and Owner's Capital $4,100. The following transactions were completed during April. Apr. Purchased golf discs, bags, and other inventory on account from Mumford Co. $1,200, FOB shipping point, terms 2/10, in n/60. Paid freight on the Mumford Co. purchase $60. Received credit from Mumford Co. for merchandise returned $100. Purchased disc golf shirts and other accessories on account from Saucer Sportswear $600, terms 1/10, n/30. 14 Paid Mumford Co. in full, less discount. Received credit from Saucer Sportswear for merchandise returned $0. Paid Saucer Sportswear in full, less discount