Using the data shown in Exercise 6-38, journalize the entries for the transactions, assuming that Air Systems Company uses the perpetual inventory system

Using the data shown in Exercise 6-38, journalize the entries for the transactions, assuming that Air Systems Company uses the perpetual inventory system


Answer:























Jan. 2 Merchandise Inventory 18,200
Accounts Payable 18,200
5 Merchandise Inventory 190
Cash 190
6 Accounts Payable 2,750
Merchandise Inventory 2,750
13 Accounts Receivable 37,300
Sales 37,300
13 Cost of Merchandise Sold 22,400
Merchandise Inventory 22,400
15 Delivery Expense 215
Cash 215
17 Accounts Payable 15,450
Merchandise Inventory 309
Cash 15,141
23 Cash 36,927
Sales Discounts 373
Accounts Receivable 37,300