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Perpetual Accounting

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How do you journalize entries?

14 Purchased Merchandise for cash $3,800
23 Sold merchandise for cash $6,400. Merchandise sold had a cost of $5,120
26 Purchased merchandis for cash $2,300
29 Made refunds to cash customers for defective merchandise $90. The return had a scrap value of $30
30 Sold merchandise on account $3,700 terms n/30 the cost of the merchandise sold was $2,800

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This solution helps with a problem about perceptual accounting.

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Journal entries
Date Particulars debit credit

14 Purchases a/c Dr 3800
To cash 3800
(being the goods purchased
for ...

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