Question: Using the information in E7-13, prepare journal entries to record the transactions, assuming Axe uses a perpetual inventory system. E7-13 Jan. 6 Purchased goods for
E7-13
Jan. 6 Purchased goods for $1,200 from Green with terms 2/10, n/30.
6 Purchased goods from Munoz for $900 with terms 2/10, n/30.
14 Paid Green in full.
Feb. 2 Paid Munoz in full.
28 Purchased goods for $350 from Reynolds with terms 2/10, n/45.
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