Prepare journal entries for the following transactions for Mark Machine Parts applying the perpetual inventory system. Omit explanations.
July 9 Purchased on account 4 tires for $700.
11 Returned 1 tire for $175 credit.
15 Sold 2 tires for $1,500 cash, cost $350.
19 Paid the balance due on account.

Question

Quizplus · Accepted Answer

The Answer of Prepare journal entries for the following transactions for Mark Machine Parts applying the perpetual inventory system. Omit explanations.
July 9 Purchased on account 4 tires for $700.
11 Returned 1 tire for $175 credit.
15 Sold 2 tires for $1,500 cash, cost $350.
19 Paid the balance due on account.

Prepare Journal Entries for the Following Transactions for Mark Machine