Using the information provided in Part 1 of Problem 1B journalize each of the transactions assuming a periodic inventory system.In Problem 1B Part 1Prepare General Journal entries to record the...

Using the information provided in Part 1 of Problem 1B journalize each of the transactions assuming a periodic inventory system. In Problem 1B Part 1 Prepare General Journal entries to record the following perpetual system merchandising transactions of Lyryx Company. Use a separate account for each receivable and payable; for example, record the sale on March 6 in Accounts Receivable-Tessier & Welsh. Mar. 5 Purchased $48,000 of merchandise from Delton Suppliers paying cash. 6 Sold merchandise for $36,000 to Tessier & Welsh; terms 2/10, n/30, FOB destination (cost of sales $27,100). 7 Purchased merchandise from Janz Company for $71,000; terms 1 /10, n/45, FOB shipping point. 8 Paid $1,540 shipping costs regarding the purchase of March 7 9 Sold merchandise for $46,000 to Parker Company; terms 2/10, n/30, FOB destination (cost of sales $32,900). 10 Purchased $1 7,800 of merchandise from Delton Suppliers; terms 2/10, n/45, FOB destination. 16 Collected the balance owing from Tessier & Welsh regarding the March 6 sale. 17 Paid for the March 7 purchase from janz Company. 30 Paid for the March 10 purchase from Delton Suppliers. 31 Collected the balance owing from Parker Company regarding the sale of March 9. View Solution:

Using the information provided in Part 1 of Problem 1B