Putter Pilot Supplies is a golf and aviation supply store. Putter Pilot uses perpetual inventory. Use a General Journal to journalize the following four transactions during the month of March:
(a) |
On March 4th Putter purchases inventory for sale from Plane Stuff Wholesalers for $9,750.00 with terms 1/10, n/30. |
(b) |
On March 5th Putter pays Airborne Transfer $65 for freight-in on the March 4th order. |
(c) |
On March 12th Putter buys an additional $12,985 in inventory from Plane Stuff Wholesalers with terms 1/10, n/30. |
(d) |
On March 22nd Putter pays Plane Stuff Wholesalers the balance due. |
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