Question: please help Question 10 3 points Using the data set below relating to a perpetual inventory system, what entries are made on April 2 and

please help
please help Question 10 3 points Using the data set below relating

Question 10 3 points Using the data set below relating to a perpetual inventory system, what entries are made on April 2 and April 107 No specific cost flow method is assumed. Date Event Amount 1-Ape Beginning inventory 1,000 2-Apr Sales on account (cost 8,000) 12.000 6-Apr Inventory purchases 2/10, 1/30 8,000 10-Apr Inventory returns 1,000 12. Apr Freight pald 600 13-Ape Payments on account 2.500 30-Apr Actual inventory count 2,500 CA Debit Credit 4/2 Accounts receivable 12000 Sales 12,000 Cost of goods sold 8,000 Inventory 8.000 4/10 Accounts payable 1.000 Inventory 1,000 Debi Credit 4/2 Accounts receivable 12.000 Sales 12.000 4710 Accounts payable 1000 Purchases 1.000 Debit Credi 4/2 Accounts receivable 12000 Sales 12000 4/10 Accounts payabie 1000 Inventory 1.000 D Debe Cred Accounts receivable 12.000 12.000 OR 42

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!