Business, 13.06.2021 16:00 thelonewolf5020

6 In the end, Mei-ling decides to use the perpetual inventory system. The following
transactions happen during the month of January.
Jan. 4 Bought five deluxe mixers on account from Kzinski Supply Co. for
R2,875, FOB shipping point, terms n/30.
Paid R100 freight on the January 4 purchase.
7 Returned one of the mixers to Kzinski because it was damaged during
shipping. Kzinski issues Matcha Creations credit for the cost of mixer plus
R20 for the cost of freight that was paid on January 6 for one mixer.
8 Collected R375 of the accounts receivable from December 2021.
12 Three deluxe mixers are sold on account for R3,450, FOB destination,
terms n/30. (Cost of goods sold is R595 per mixer.)
Paid the R75 of delivery charges for the three mixers that were sold on
January 12.
Bought four deluxe mixers on account from Kzinski Supply Co. for
R2,300, FOB shipping point, terms n/30.
co
14
14

prepare and post the transactions

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6 In the end, Mei-ling decides to use the perpetual inventory system. The following
transactio...

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