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Journalise the October transactions for Wholesale Ltd

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Question - Wholesale Ltd uses a periodic inventory system. During October, the following transactions and events occurred:

Oct. 3 Purchased 70 backpacks at $35 each from First Choice Ltd; terms 2/10, n/30.

Oct. 6 Received credit of $140 for the return of 4 backpacks purchased on October 3 that were defective.

Oct. 9 Sold 40 backpacks for $45 each to Mace Books; terms 2/10, n/30.

Oct. 13 Paid First Choice Ltd in full.

Journalise the October transactions for Wholesale Ltd.

Reference no: EM133057746

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