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Journalentries assuming axe using perpetual inventory system

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Using the information in E6-7, prepare journal entries to record the transactions, assuming Axe uses a perpetual inventory system.

Info E6-7

Jan. 6 Purchased goods for $ 1,200 from Green with terms 2/10, n/30.

6 Purchased goods from Munoz for $ 900 with terms 2/10, n/30.

14 Paid Green in full.

Feb. 2 Paid Munoz in full.

28 Purchased goods for $ 350 from Reynolds with terms 2/10, n/45.

Reference no: EM13873118

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