Please help me Below are transactions completed by Bijan Sdn Bhd inAugust 2019. Bijan Sdn Bhd uses the perpetual inventorysystem.Purchased RM24,500 of merchandise on account,FOB shipping point, terms 2/10, n/30.Paid transportation cost of RM475 on the August 3purchase.Returmed RM4,000 of the merchandise purchasedAug 3on August 3.11Sold merchandise on account, RM12,700,FOB destination, 2/15, n/30. Thecost of merchandise sold was RM7,600.Paid transportation cost of RM300 for the12merchandise sold on August 11.13Paid for the purchase of August 3.26Received payment on account for the sale ofAugust 11.REQUIRED:Journalise the entries to record the transactions of Bijian SdnBhd.

Journal entries are the primary step of recording the transaction in the books of account. Journal…

Below are transactions completed by Bijan Sdn Bhd in August 2019. Bijan Sdn Bhd uses the perpetual inventory system. Aug 3 Purchased RM24,500 of merchandise on account, FOB shipping point, terms 2/10, n/30. Paid transportation cost of RM475 on the August 3 purchase. Retuned RM4,000 of the merchandise purchased on August 3. Sold merchandise on account, RM12,700, FOB destination, 2/15, n/30. The cost of merchandise sold was RM7,600. Paid transportation cost of RM300 for the 12 merchandise sold on August 11. 13 Paid for the purchase of August 3. 26 Received payment on account for the sale of August 11.

Below are transactions completed by Bijan Sdn Bhd in August 2019. Bijan Sdn Bhd uses the perpetual inventory system. Aug 3 Purchased RM24,500 of merchandise on account, FOB shipping point, terms 2/10, n/30. Paid transportation cost of RM475 on the August 3 purchase. Retuned RM4,000 of the merchandise purchased on August 3. Sold merchandise on account, RM12,700, FOB destination, 2/15, n/30. The cost of merchandise sold was RM7,600. Paid transportation cost of RM300 for the 12 merchandise sold on August 11. 13 Paid for the purchase of August 3. 26 Received payment on account for the sale of August 11.

Financial Accounting: The Impact on Decision Makers

10th Edition

ISBN:9781305654174

Author:Gary A. Porter, Curtis L. Norton

Publisher:Gary A. Porter, Curtis L. Norton

Chapter5: Inventories And Cost Of Goods Sold

Section: Chapter Questions

Problem 5.14E

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