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Question 1. The following is a series of related transactions between Siogo Shoes, a shoe wholesaler and Sole Mates, a chain retail shoe stores. Both Companies use a perpetual inventory system. Do these journal entries for Siogo Shoes.
a) Feb 9??Siogo Shoes sold Sole Mates 100 pairs of hiking boots on account, terms 1/10, n/30. The cost of these boots so Siago Shoes was $60 per pair, and the sales prices was $100 per pair.
b)? Feb. 12 Sole Mates returned 10 pairs of boots to Siogo Shoes because they were the wrong size. Siogo Shoes allowed Sole Mates full credit for this return.
c)? Feb. 19 Sole paid the remaining balance due to Siogo Shoes within the discount period.
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