Prepare journal entries for the following transactions for HO Train Shop applying the perpetual inventory system.Omit explanations.
$\begin{array}{llcc}
\text {Mar. } & \text { 2 Purchased on account 200 model engines for $ \$ 2,000 $. } & \
&\text { 12 Returned 20 engines for full credit. } &\
&\text {19 Sold 50 of the engines to $ R $. Holmes for $ \$ 1,000 $ cash } &\
& \text { 25 Paid the balance due on the engines. } &\
\end{array}$

Question

Prepare journal entries for the following transactions for HO Train Shop applying the perpetual inventory system.Omit explanations.
 $\begin{array}{llcc}
 \text {Mar.   } &  \text { 2  Purchased on account 200 model engines for $ \$ 2,000 $. } &  \
 &\text { 12 Returned 20 engines for full credit. } &\
 &\text {19 Sold 50 of the engines to $ R $. Holmes for $ \$ 1,000 $ cash  } &\
& \text {  25 Paid the balance due on the engines. } &\
\end{array}$

Quizplus · Accepted Answer

The Answer of Prepare journal entries for the following transactions for HO Train Shop applying the perpetual inventory system.Omit explanations.
 $\begin{array}{llcc}
 \text {Mar.   } &  \text { 2  Purchased on account 200 model engines for $ \$ 2,000 $. } &  \
 &\text { 12 Returned 20 engines for full credit. } &\
 &\text {19 Sold 50 of the engines to $ R $. Holmes for $ \$ 1,000 $ cash  } &\
& \text {  25 Paid the balance due on the engines. } &\
\end{array}$

Prepare Journal Entries for the Following Transactions for HO Train