Creating entry for spa purchase


Q1) Suppose Perpetual Inventory System is used, complete journal entries for following transactions as directed.

On 3/15, Janet's Spa bought 90 plush robes from Randy's Spa Supplies. Randy's charged Janet's Spa $15,750 for the robes. Shipment was delivered FOB Shipping. Freight bill was for $270. Randy paid shipper and included amount in Janet's invoice. Credit terms offered by Randy's were 1/10, n/30. Create entry for Janet's Spa, for this purchase.

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Accounting Basics: Creating entry for spa purchase
Reference No:- TGS020738

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