Assuming solitare uses a perpetual inventory system

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Reference no: EM131285571

During the months of January and February, Solitare Corporation sold goods to three customers. The sequence of events was as follows:

Jan. 6 Sold goods for $100 to Wizard Inc. with terms 2/10, n/30. The goods cost Solitare $70.

6 Sold goods to Spyder Corp. for $80 with terms 2/10, n/30. The goods cost Solitare $60.

14 Collected cash due from Wizard Inc.

Feb. 2 Collected cash due from Spyder Corp.

28 Sold goods for $50 to Bridges with terms 2/10, n/45. The goods cost Solitare $30.

Required:

Prepare journal entries to record the transactions, assuming Solitare uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

Reference no: EM131285571

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