Question attached in screenshotthanksfor the helpwepglwepgl2pgl24pgl2plg2plp Samantha Corporation purchased inventory costing $140,000 and sold 70% of the goods for $173,000. All purchases and sales were on account. Samantha later collected30% of the accounts receivable. Assume that sales returns are nonexistent.Read the requirements1. Journalize these transactions for Samantha, which uses the perpetual inventory system.Journalize the purchase of inventory. (Record debits first, then credits. Exclude explanations from any journal entries.)JournalAccountsCDebitCredit

Journal is a book used to record the day to day business transactions of the Business Entity.

1. Journalize these transactions for Samantha, which uses the perpetual inventory system. Journalize the purchase of inventory. (Record debits first, then credits. Exclude explanations from any journal entries.)

1. Journalize these transactions for Samantha, which uses the perpetual inventory system. Journalize the purchase of inventory. (Record debits first, then credits. Exclude explanations from any journal entries.)

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter11: The Statement Of Cash Flows

Section: Chapter Questions

Problem 37E: Analyzing the Accounts Casey Company uses a perpetual inventory system and engaged in the following...

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Question attached in screenshot

thanksfor the help

wepglwepgl2pgl24pgl2plg2plp

Samantha Corporation purchased inventory costing $140,000 and sold 70% of the goods for $173,000. All purchases and sales were on account. Samantha later collected
30% of the accounts receivable. Assume that sales returns are nonexistent.
Read the requirements
1. Journalize these transactions for Samantha, which uses the perpetual inventory system.
Journalize the purchase of inventory. (Record debits first, then credits. Exclude explanations from any journal entries.)
Journal
Accounts
C
Debit
Credit

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