Help me plz June 10 Purchased 12 tractors from Ford Autos on account. Invoice price, $1,250 per unit. The terms of purchase were 2/10, n/30. June 15 Sold one of these tractors for $2,400 cash terms. June 20 Paid the account payable to Ford Autos within the discount period. June 25 Sold 5 tractors on account $2,350 each, terms 3/10, n/30. June 28 Purchased 4 tractors from Ford Autos on account. Invoice price $1,250 per unit. The terms of purchase were 2/10, n/30. June 29 Paid freight on June 28 purchase $350 June 30 Received payment on account from June 25 purchase. Prepare Journal entries to record these transactions by following periodic inventory method as also perpetual inventory method.
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Kitchen Electrics uses a perpetual inventory system. The following are three recent merchandising transactions:
Apr. 10: Purchased 10 refrigerators from Polar Co. on account. Invoice price, $600 per unit, for a total of $6,000. The terms of purchase were 2/10, n/30.
Apr. 15: Sold one of these refrigerators for $900 cash.
Apr. 20: Paid the account payable to Polar Co. within the discount period. Instructions
a. Prepare journal entries to record these transactions assuming that Kitchen Electrics records purchases of merchandise at:
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