Using the five journals as named here:Sales, Purchases, Cash Receipts, Cash Disbursements, and Generaland using the following as possible column header titles:Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or Noneand using the accounts listed below, record journal entries for the following transactions, which uses the perpetual inventory system:Accounts PayableMerchandise InventorySalesAccounts ReceivablePurchasesSales DiscountsCashPurchase DiscountsSales Returns and AllowancesCost of Goods SoldPurchase Returns and AllowancesSales Tax PayablePLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" - no quotation marks.On Jun. 1, credit sale (invoice #1) to Green Lantern Inc. (acc #101) for $1,999, for inventory costing $876.On Jun. 2, credit sale (invoice #2) to Wonder Woman Inc. (acc #102) for $2,000, for inventory costing $1,234.On Jun. 3, credit sale to Black Panther Inc. (invoice #3) (acc #103) for $3,050, for inventory costing $2,198. JOURNAL Page 124Date DR CR DR CR2019 Jun. 1 Jun. 2 Jun. 3 Using the five journals as named here:• Sales, Purchases, Cash Receipts, Cash Disbursements, and Generaland using the following as possible column header titles:Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or Noneand using the accounts listed below, record journal entries for the following transactions, which uses the perpetual inventory system:Accounts PayableMerchandise InventorySalesAccountsPurchasesSales DiscountsReceivableSales Returns andCashPurchase DiscountsAllowancesPurchase Returns andCost of Goods SoldSales Tax PayableAllowancesPLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) andall dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" - no quotation marks.• On Jun. 1, credit sale (invoice #1) to Green Lantern Inc. (acc #101) for $1,999, for inventory costing $876.On Jun. 2, credit sale (invoice #2) to Wonder Woman Inc. (acc #102) for $2,000, for inventory costing $1,234.• On Jun. 3, credit sale to Black Panther Inc. (invoice #3) (acc #103) for $3,050, for inventory costing $2,198. JOURNALPage 124DRDRDateCRCR2019Jun.Jun.2Jun.31.

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Description: Using the five journals as named here:Sales, Purchases, Cash Receipts, Cash Disbursements, and Generaland using the following as possible column header titles:Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or Noneand

Perpetual Inventory System: A perpetual inventory system is a method of inventory management that…

Answered: ow, record journal entries for the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Using the five journals as named here:

Sales, Purchases, Cash Receipts, Cash Disbursements, and General

and using the following as possible column header titles:

Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or None

and using the accounts listed below, record journal entries for the following transactions, which uses the perpetual inventory system:

Accounts Payable	Merchandise Inventory	Sales
Accounts Receivable	Purchases	Sales Discounts
Cash	Purchase Discounts	Sales Returns and Allowances
Cost of Goods Sold	Purchase Returns and Allowances	Sales Tax Payable

PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" - no quotation marks.

On Jun. 1, credit sale (invoice #1) to Green Lantern Inc. (acc #101) for $1,999, for inventory costing $876.
On Jun. 2, credit sale (invoice #2) to Wonder Woman Inc. (acc #102) for $2,000, for inventory costing $1,234.
On Jun. 3, credit sale to Black Panther Inc. (invoice #3) (acc #103) for $3,050, for inventory costing $2,198.

JOURNAL	*Page 124*
Date		DR CR	DR CR
2019
Jun. 1
Jun. 2
Jun. 3

Using the five journals as named here:
• Sales, Purchases, Cash Receipts, Cash Disbursements, and General
and using the following as possible column header titles:
Date, Account, Acct. No., Check No., Purchase Order No., Sales Invoice No., Ref. or None
and using the accounts listed below, record journal entries for the following transactions, which uses the perpetual inventory system:
Accounts Payable
Merchandise Inventory
Sales
Accounts
Purchases
Sales Discounts
Receivable
Sales Returns and
Cash
Purchase Discounts
Allowances
Purchase Returns and
Cost of Goods Sold
Sales Tax Payable
Allowances
PLEASE NOTE: You must enter the journal names, header titles, and account names exactly as written above (or in the transactions below) and
all dollar amounts will be with "$" and commas as needed (i.e. $12,345). If no dollar amount is needed, please use "$0" - no quotation marks.
• On Jun. 1, credit sale (invoice #1) to Green Lantern Inc. (acc #101) for $1,999, for inventory costing $876.
On Jun. 2, credit sale (invoice #2) to Wonder Woman Inc. (acc #102) for $2,000, for inventory costing $1,234.
• On Jun. 3, credit sale to Black Panther Inc. (invoice #3) (acc #103) for $3,050, for inventory costing $2,198.

JOURNAL
Page 124
DR
DR
Date
CR
CR
2019
Jun.
Jun.
2
Jun.
3
1.

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ow, record journal entries for the following transactions, which uses the perpetual inventory system: Accounts Payable Merchandise Inventory Sales Accounts Receivable Purchases