Question: using the periodic method. what are the journal entries? The fallkenberg company had the following inventory transactions throughout the period. Falkenberg had $13,200 of Operating

using the periodic method. what are the journal entries? The fallkenberg company had the following inventory

transactions throughout the period. Falkenberg had $13,200 of Operating Expenses, $4,500 of Interest Revenue and $3,300 of Interest Expense for the period.

purchased 160,000 of merchandise from Gomez company under terms 2/10,n/30

returned 10,000 of goods to the Gomez company that were defective

march 13: paid the balance due to Gomez Company

march 20: sold goods costing 120,000 to Renner company for 156,000 under terms 1/15,n/30

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