Prepare the journal entries to record

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Question: Prepare the journal entries to record the following purchase transactions in Jarek Company's books. Jarek uses a perpetual inventory system. Mar. 12 Jarek purchased $25,000 of merchandise from Dalibor Company, terms 2/10, n/30, FOB destination. 13 The correct company paid freight costs of $265. 14 Jarek returned $2,000 of the merchandise purchased on March 12 because it was damaged. 21 Jarek paid the balance owing to Dalibor.

Reference no: EM133416795

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