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Journalize the purchase transactions

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Requirement 1. Journalize the purchase transactions. Explanations are not required. ?(Assume the company uses a perpetual inventory system. Record debits? first, then credits. Exclude explanations from journal? entries.)

Sept. 6

Wonderland Toys purchased $105,800 worth of PegaBlock toys on account with credit terms of 2/10, n/45.

Sept. 13

Wonderland Toys returned $10,500 of the merchandise to PegaBlock due to damage during shipment.

Sept. 14

Wonderland Toys paid the amount due, less the return and discount.

Reference no: EM133246893

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