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Required information

Problem $8-1($Static$)$ Various inventory transactions; journal entries $[$LO$8-1,8-2,8-3]$

$[$The following information applies to the questions displayed below.$]$

Autumn Company began the month of October with inventory of $$15,000.$ The following inventory transactions occurred during the month:

a$.$ The company purchased inventory on account for $$22,000$ on October $12.$ Terms of the purchase were $\frac{2}{10},\frac{n}{30}.$ Autumn uses the net method to record purchases. The inventory was shipped f$.$o$.$b$.$ shipping point and freight charges of $$500$ were paid in cash.

b$.$ On October $31,$ Autumn paid for the inventory purchased on October $12.$

c$.$ During October inventory costing $$18,000$ was sold on account for $$28,000.$

d$.$ It was determined that inventory on hand at the end of October cost $$19,060.$

Problem $8-1($Static$)$ Part $1$

Required:

Assuming Autumn Company uses a perpetual inventory system, prepare journal entries for the above transactions. Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.

Answer is not complete.

$\backslash$table$[[$No$,$Date,Gen,,Debit,Credit$],[1,$October $12,$Inventory,$(),21,560(),],[,$Accounts payable,$(\backslash$sqrt$2,,21,560($V$)],[2,$October $12,$Interest payable,$\backslash$times $,500(,],[,$Cash,$($vv$),,500($v$)],[3,$October $31,$Accounts payable,grad,$21,560,],[,$Interest expense,x$,440(\backslash$sqrt$2,],[,$Cash,$($v$),,22,000($V$)],[4,$October $31,$Accounts receivable,$(\backslash$sqrt$1,28,000(),],[,$Sales revenue,$($V$),,28,000($V$)],[6,$October $31,$Inventory,$\backslash$times $,19,060$x$,],[,$Cost of goods sold,x$,18,000$x$,],[,$Inventory,$\backslash$bar $($x$),,15,000\backslash$times $],[,$Purchases,x$,,21,560$x$],[,$Freight$-$in$,$x$,,500$x$]]$