Using the information in E6-13, prepare journal entries to record the transactions, assuming Bear s.

Using the information in E6-13, prepare journal entries to record the transactions, assuming Bear s.

Using the information in E6-13, prepare journal entries to record the transactions, assuming Bear s Retail Store uses a perpetual inventory system. Information From E6-13 Nov. 20 Sold two items of merchandise to Cheryl Jahn, who paid the $400 sales price in cash. The goods cost Bear s $300. 25 Sold 20 items of merchandise to Vasko Athletics at a selling price of $4,000 (total); terms 3/10, n/30. The goods cost Bear s $2,500. 28 Sold 10 identical items of merchandise to Nancy s Gym at a selling price of $6,000 (total); terms 3/10, n/30. The goods cost Bear s $4,000. 29 Nancy s Gym returned one of the items purchased on the 28th. The item was in perfect condition, and credit was given to the customer. Dec. 6 Nancy s Gym paid the account balance in full. 30 Vasko Athletics paid in full for the invoice of November 25, 2013.

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