Below are transactions completed by Bijan Sdn Bhd in August 2019. Bijan Sdn Bhd uses the perpetual inventory system. Aug 3 Purchased RM24,500 of merchandise on account, FOB shipping point, terms 2/10, n/30. Paid transportation cost of RM475 on the August 3 purchase. Retuned RM4,000 of the merchandise purchased on August 3. Sold merchandise on account, RM12,700, FOB destination, 2/15, n/30. The cost of merchandise sold was RM7,600. Paid transportation cost of RM300 for the 12 merchandise sold on August 11. 13 Paid for the purchase of August 3. 26 Received payment on account for the sale of August 11.
Below are transactions completed by Bijan Sdn Bhd in August 2019. Bijan Sdn Bhd uses the perpetual inventory system. Aug 3 Purchased RM24,500 of merchandise on account, FOB shipping point, terms 2/10, n/30. Paid transportation cost of RM475 on the August 3 purchase. Retuned RM4,000 of the merchandise purchased on August 3. Sold merchandise on account, RM12,700, FOB destination, 2/15, n/30. The cost of merchandise sold was RM7,600. Paid transportation cost of RM300 for the 12 merchandise sold on August 11. 13 Paid for the purchase of August 3. 26 Received payment on account for the sale of August 11.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Below are transactions completed by Bijan Sdn Bhd in
August 2019. Bijan Sdn Bhd uses the perpetual inventory
system.
Purchased RM24,500 of merchandise on account,
FOB shipping point, terms 2/10, n/30.
Paid transportation cost of RM475 on the August 3
purchase.
Returmed RM4,000 of the merchandise purchased
Aug 3
on August 3.
11
Sold merchandise on account, RM12,700,
FOB destination, 2/15, n/30. The
cost of merchandise sold was RM7,600.
Paid transportation cost of RM300 for the
12
merchandise sold on August 11.
13
Paid for the purchase of August 3.
26
Received payment on account for the sale of
August 11.
REQUIRED:
Journalise the entries to record the transactions of Bijian Sdn
Bhd.
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