Solution-Prepare journal entries to record the following

Prepare journal entries to record the following transactions

Reference no: EM131000381

Prepare the journal entries to record the following transactions on Horst company's books using a perpetual inventory system. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Record the journal entries in the order presented in the problem.

(a) On March 2, Horst company sold $861,000 of merchandise to Bernadina company terms 3/10, n/30. The cost of merchandise sold was $539,000.

(b) On March 6, Bernadina company returned $118,000 of merchandise purchased on March 2. The cost of the merchandise returned was $68,670.

Reference no: EM131000381

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Prepare journal entries to record the following transactions

Reference no: EM131000381

Reference no: EM131000381

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