Accounting -The following events pertain to bubbas surf shop for October 2005

| January 31, 2017

Question
hey! if any of you guys can help solve my financial accounting problem with i’d gladly appreciate it and you will be compensated accordingly

The following events pertain to bubbas surf shop for October 2005. The company uses perpetual inventory method. Record the following transactions from the general journal.

1. Oct 1 issued $20,000 of common stock

2. Oct 2 purchased $15,000 of merchandise on account with terms 1/10, n/30

3. Oct 3 returned $1,200 of defective merchandise from Oct 2 purchase

4. Oct. 4 sold merchandise that cost $9,000 for $16,000 to customers on account with terms 2/10, n/30

5. Oct 5 freight of $150 on goods sold to customers shipped for FOB destination was paid by responsible party

6. Oct 10 paid the account due on the merchandise purchased Oct 2

7. Oct 12 received cash from customers in settlement of Oct 4 sale

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