Question: Problem Set Problem # 1: Dino's After School purchased 50 textbooks from the local publisher, about career readiness, to resell to clients. The total cost

Problem Set

Problem # 1: Dino's After School purchased 50 textbooks from the local publisher, about career readiness, to resell to clients. The total cost of the transaction, including shipping and handling, was $552. The textbooks were purchased on account. Use a journal entry to record this transaction, using the perpetual inventory system.

Problem # 2: Dino's After School returned 8 severely damaged books to the publisher. The total value of the returned merchandise was $94. Use a journal entry to record this transaction, using the perpetual inventory system.

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