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Provide the relevant journal entries for kinsugi corp

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Kinsugi Corp began Q2 2020 with $300 of inventory. On April 21st 2020, they purchased $200 worth of goods on account from Gold Inc. The shipping cost of $20 for this purchase was paid by Gold Inc. Kinsugi Corp paid $12 cash for custom fees for this purchase on April 30 2020. On June 1 Kinsugi Corp recorded a sale of $500on account to Musuem Co on account.

A physical count revealed an ending inventory of $280. Kinsugi Corp uses periodic inventory.

Problem 1: Provide the relevant journal entries for Kinsugi Corp for the following dates:

April 21st

April 30th

June 1st

June 31st (End of Q2 2020)

Reference no: EM132698781

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