perpetual inventory system of stellar Mar. Stellar Stores purchases $9,100 of merchandise for resale from Sunland Wholesalers, terms 2/10, n/30, FOB shipping point. 1 2 The correct company pays $160 for the shipping charges. Stellar returns $1,000 of the merchandise purchased on March 1 because it was the wrong colour. Sunland gives Stellar a $1,000 credit on its account. 21 Stellar Stores purchases an additional $13.000 of merchandise for resale from Sunland Wholesalers, terms 2/10, n/30,FOB destination. 22 The correct cormpany pays $195 for freight charges. 23 Stellar returns $300 of the merchandise purchased on March 21 because it was damaged. Sunland gives Stellar a $300 credit on its account. 30 Stellar paid Sunland the armount owing for the merchandise purchased on March 1. 31 Stellar paid Sunland the amount owing for the merchandise purchased on March 21. Additional information: Mar. Sunland's cost of the merchandise sold to Stellar was $3,900. 3 Sunland's cost of the merchandise returned by Stellar was $429. As the merchandise was not darmaged, it was returned to Sunland's inventory. Sunland's cost of the additional merchandise sold to Stellar Stores was $5,571. Sunland's cost of the merchandise returned by Stellar was $129. As the merchandise was damaged, it was put in the recycling bin. Prepare its entries to record the sales transactions .
perpetual inventory system of stellar
Mar.
Stellar Stores purchases $9,100 of merchandise for resale from Sunland Wholesalers, terms 2/10, n/30, FOB shipping point.
1
2 The correct company pays $160 for the shipping charges.
Stellar returns $1,000 of the merchandise purchased on March 1 because it was the wrong colour. Sunland gives Stellar a
$1,000 credit on its account.
21
Stellar Stores purchases an additional $13.000 of merchandise for resale from Sunland Wholesalers, terms 2/10, n/30,FOB
destination.
22
The correct cormpany pays $195 for freight charges.
23
Stellar returns $300 of the merchandise purchased on March 21 because it was damaged. Sunland gives Stellar a $300
credit on its account.
30
Stellar paid Sunland the armount owing for the merchandise purchased on March 1.
31
Stellar paid Sunland the amount owing for the merchandise purchased on March 21.
Additional information:
Mar.
Sunland's cost of the merchandise sold to Stellar was $3,900.
3
Sunland's cost of the merchandise returned by Stellar was $429. As the merchandise was not darmaged, it was returned to
Sunland's inventory.
Sunland's cost of the additional merchandise sold to Stellar Stores was $5,571.
Sunland's cost of the merchandise returned by Stellar was $129. As the merchandise was damaged, it was put in the recycling bin.
Prepare its entries to record the sales transactions .
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