Question: no explanation req Soul Space Git Shop uses a perpetual inventory system. Journalize the following transactions for Soul Space Gift Sh February 7: Returned $600




Soul Space Git Shop uses a perpetual inventory system. Journalize the following transactions for Soul Space Gift Sh February 7: Returned $600 of defective merchandise purchased on February 3. February 9: Paid freight bill of $200 on February 3 purchase. suoljoesue February 12: Paid amount owed on credit purchase of February 3 , less the return and the discount. February 28: Received cash from February 10 from the customer in full payment of their account. Soul Space Gift Shop uses a perpetual inventory system. Journalize the following transactions for Soul Space Gift Shop. Explanabons are not required (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the not amount. Round all numbers fo the nearest whole dollar:) (Click the icon to view the transactions) February 3. Purchased $2,900 of inventory on account under terms 3/10,nEOM and FOB shipping point February 7: Returned $600 of defective merchandise purchased on February 3 February 10: Sold inventory on account for $4,400. Payment terms were 3/15,n30. These goods cost the company $2,200. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the follo Now journalize the expense reiatod to the February 10 sal0-Cost of goods, $2,200
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