ACCT 420 Journalize the following inventory
Journalize the following inventory merchandise transactions, assuming that the company uses the perpetual inventory system. Refer to the Chart of Accounts for exact wording of account titles.
Dec. 1 Sold merchandise on account, $17, 300, with terms 2/10, net 30. The cost of the merchandise sold was $12, 600.00.
Dec. 6 Received payment within the discount period.
|CHART OF ACCOUNTS|