Sunita Computer Supplies entered into the following transa
Question and Solution
Sunita Computer Supplies entered into the following transactions. Prepare journal entries under the perpetual inventory system. May 1 Purchased merchandise on account from Anju Enterprises, $200,000. 8 Purchased merchandise for cash, $100,000. 15 Sold merchandise on account to Salil’s Pharmacy for $8,000. The merchandise cost $5,000.