Question: TB Problem Qu . 7 - 1 4 2 ( Static ) Prepare the journal entries... Prepare the journal entries for the transactions listed below

TB Problem Qu.7-142(Static) Prepare the journal entries...
Prepare the journal entries for the transactions listed below under both the periodic inventory system and the perpetual inventory system.
A. Purchased merchandise for cash, $1,000.
B. Sold merchandise for $600 cash that had cost $480(cost is 80% of the sales price).
C. Accepted a sales return from a customer: sales price $30. A cash refund was given to the customer. The goods were returned to regular inventory.
D. Returned goods to the vendor because they did not meet our specification; $50 cash refund was received.
Complete this question by entering your answers in the tabs below.
Perpetual
Period
Inventory
Inventory
Prepare the journal entries for the transactions listed below under the perpetual inventory system.
TB Problem Qu.7-142(Static) Prepare the journal entries... Prepare the journal entries

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