Question: Required information Exercise 6-9A Record transactions using a perpetual system (LO6-5) [The following information applies to the questions displayed below.) Littleton Books has the following
Required information Exercise 6-9A Record transactions using a perpetual system (LO6-5) [The following information applies to the questions displayed below.) Littleton Books has the following transactions during May May 2 Purchases books on account from Readers Wholesale for $2,900, terms 2/10, n/30. May 3 Pays cash for freight costs of $160 on books purchased from Readers. May 5 Returns books with a cost of $250 to Readers because part of the order is incorrect. May 10 Pays the full amount due to Readers. May 30 Sells all books purchased on May 2 (less those returned on May 5) for $3,600 on account. Exercise 6-9A Part 1 Required: 1. Record the transactions of Littleton Books, assuming the company uses a perpetual Inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2. 3 4 5 6
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