Prepare journal entries for the following transactions for Jane's Violin Shop applying the perpetual inventory system.Omit explanations.
$\begin{array}{llcc}
\text { Mar: } & \text { 12 Purchased on account 2 boxes of bows for $ \$ 120 $ } & \
&\text { 16 Returned 1 bow for $ \$ 10 $ credit. } &\
& \text { 22 Sold 3 bows for $ \$ 150 $, cost $ \$ 50 $. } &\
& \text {29 Paid the balance diue on account } &\
\end{array}$

Question

Prepare journal entries for the following transactions for Jane's Violin Shop applying the perpetual inventory system.Omit explanations.
 $\begin{array}{llcc}
 \text { Mar: } & \text { 12 Purchased on account 2 boxes of bows for $ \$ 120 $  } &  \
 &\text { 16 Returned 1 bow for $ \$ 10 $ credit. } &\
& \text { 22 Sold 3 bows for $ \$ 150 $, cost $ \$ 50 $. } &\
& \text {29 Paid the balance diue on account  } &\
\end{array}$

Quizplus · Accepted Answer

The Answer of Prepare journal entries for the following transactions for Jane's Violin Shop applying the perpetual inventory system.Omit explanations.
 $\begin{array}{llcc}
 \text { Mar: } & \text { 12 Purchased on account 2 boxes of bows for $ \$ 120 $  } &  \
 &\text { 16 Returned 1 bow for $ \$ 10 $ credit. } &\
& \text { 22 Sold 3 bows for $ \$ 150 $, cost $ \$ 50 $. } &\
& \text {29 Paid the balance diue on account  } &\
\end{array}$

Prepare Journal Entries for the Following Transactions for Jane's Violin