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Journalize the transactions under perpetual inventory method

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Question - Journalize the following transactions under the perpetual inventory method. The company's Cost of Goods Sold is 55% of Sales. Ignore Taxes.

Feb. 8 Sold $5000 of merchandise to T. Brady on account, terms 3/10 n/30.

Feb. 9 Purchased $2,000 of merchandise from Genesis Inc., terms 2/10 n/30.

Feb. 15 $400 of defective merchandise sold Feb. 8 was returned.

Feb. 16 Returned $200 of defective merchandise purchased on Feb. 9.

Feb. 17 Received payment for Feb. 8 sale.

Feb. 18 Made payment for Feb. 9 purchase.

Reference no: EM133157239

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