The following events pertain to Sports World for January 2016.The company uses the perpetual inventory method.Record the following events in the general journal.
1)Jan 3.Purchased $10,000 of merchandise from a supplier,Apex Athletic Shoes.The terms of the purchase: 2/10,n/30 and FOB shipping point.
2)Jan 5.Paid $275 cash for freight to trucking company to have goods shipped from Apex.
3)Jan 7.(a)Sold merchandise for $1,500 to a customer on account.(b)The merchandise had cost Sports World $900.
4)Jan 10.Returned $1,100 of defective shoes to Apex.
5)Jan.11.Paid amount due on account to Apex for merchandise purchased on Jan.3.
6)Jan.12.a)Accepted a return of $375 of the goods sold on Jan.7.b)The cost of these goods was $225.

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The Answer of The following events pertain to Sports World for January 2016.The company uses the perpetual inventory method.Record the following events in the general journal.
1)Jan 3.Purchased $10,000 of merchandise from a supplier,Apex Athletic Shoes.The terms of the purchase: 2/10,n/30 and FOB shipping point.
2)Jan 5.Paid $275 cash for freight to trucking company to have goods shipped from Apex.
3)Jan 7.(a)Sold merchandise for $1,500 to a customer on account.(b)The merchandise had cost Sports World $900.
4)Jan 10.Returned $1,100 of defective shoes to Apex.
5)Jan.11.Paid amount due on account to Apex for merchandise purchased on Jan.3.
6)Jan.12.a)Accepted a return of $375 of the goods sold on Jan.7.b)The cost of these goods was $225.

The Following Events Pertain to Sports World for January 2016