Please record the entries for the inventory purchase transactions below (Perpetual Inventory System) 1. Apr1, business bought $6,300 inventory from the BNC Inc. Term 1/10, n/30 FOB 2. Apr3, Business purchased $7,650 inventory from PPL's Inc. Term 2/15, n/30 FOB 3. Apr7. Business paid $150 shipping charges for the inventory purchased on Apr3 4. Apr11, business paid BNC Inc in full 5. Apr12, business found $270 defective units from the Apr3 purchase, returned them back to PPL's Inc. 6. Apr13, business bought $2,300 inventory from TriStar Inc. paid in Cash 7. Apr 25, Business paid PPL's Inc in full 8. Instead of paying PPL's Inc on Apr25, What would be the entry if the business was paying PPL's Inc on Apr18.

Please record the entries for the inventory purchase transactions below (Perpetual Inventory System) 1. Apr1, business bought $6,300 inventory from the BNC Inc. Term 1/10, n/30 FOB 2. Apr3, Business purchased $7,650 inventory from PPL's Inc. Term 2/15, n/30 FOB 3. Apr7. Business paid $150 shipping charges for the inventory purchased on Apr3 4. Apr11, business paid BNC Inc in full 5. Apr12, business found $270 defective units from the Apr3 purchase, returned them back to PPL's Inc. 6. Apr13, business bought $2,300 inventory from TriStar Inc. paid in Cash 7. Apr 25, Business paid PPL's Inc in full 8. Instead of paying PPL's Inc on Apr25, What would be the entry if the business was paying PPL's Inc on Apr18.

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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Subject: accounting
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