Question: Your answers should be DEBIT - Account Name - Dollar Amount and CREDIT - Account Name - Dollar Amount. For each journal entry, the number

Your answers should be DEBIT - Account Name - Dollar Amount and CREDIT - Account Name - Dollar Amount.

For each journal entry, the number of boxes/rows represents the number of total rows needed for the journal entry.

Thor uses a perpetual inventory system.

On October 1, Thor purchases merchandise on account from Tony Stark on account, with credit terms 2/10, n/30. The selling price of the merchandise was $14,000.

On October 5, Thor returned $2000 of the merchandise to Tony Stark.

Prepare Thors October 5 journal entry.

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