20231212_092051_12_12_2023_09_31

T —— I - Help Save & Exit The Tumer Company sells a product called TurnUp for $25 each and uses a perpetual inventory system to account for its merchandise. The beginning balance of TurnUps and transactions during January 2023 were as follows Jan. 1 Balance: 25 units costing $8 each. from Curtis & Sons 50 units costing $9 each. 7 Sold to G. Little 20 units, invoice #103. w ) c 2 n S n n [+8 24 Sold to . Woudstra 15 units, invoice #105. 29 Sold to D. Isla 32 units, invoice #106. Required: 1. Under the assumption that the company keeps its records on a FIFO basis, journalize the January transactions in the f'u'alos.and Purchases Journal. Assume all sales and purchases are on credit; terms n/30. (Enter the transactions in the order provided in the question.) olwae 000 SR Y Sy T e o T T P TE ETTR TS Sales Joumnal LTI ST TR TN Date . ¢ AIR Dr. COGS Dr. L 2023 Account Debited Invoice No. | Sales Cr. - Merchandise Inventory Cr. L} sub 2 ‘ JT..A,.I- ‘