A company has the following transactions during March:
March 3 Purchases inventory on account for $3,500,terms 2/10,n/30.
March 5 Pays freight costs of $200 on inventory purchased on March 3.
March 6 Returns inventory with a cost of $500.
March 12 Pays the full amount due on March 3 purchase.
March 29 Sells all inventory purchased on March 3 (less those returned on March 6)for $5,000 on account.
Record all transactions,assuming the company uses a perpetual inventory system.

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The Answer of A company has the following transactions during March:
March 3 Purchases inventory on account for $3,500,terms 2/10,n/30.
March 5 Pays freight costs of $200 on inventory purchased on March 3.
March 6 Returns inventory with a cost of $500.
March 12 Pays the full amount due on March 3 purchase.
March 29 Sells all inventory purchased on March 3 (less those returned on March 6)for $5,000 on account.
Record all transactions,assuming the company uses a perpetual inventory system.

A Company Has the Following Transactions During March