Asked by Eyasu

Ready-Set-Go,Ltd distribute suitcase to retail stories and extends credit terms of 1/10,n/30 to all of its customers. At the end of June,Ready-Set-Go's inventory consisted of suitcase costing of 1,200 birr. During the month of July, the following merchandising transactions occurred.
July 1.purchased suitcase on account for 1,620 birr from Trunk Manufactureers, FOB destination terms 2/10,n/30. The appropriate party also made a cash payment of 100birr for freight on this date
July 3. Sold suitcase on account to satchel world for 2,200 birr, the cost of suitcase sold was 1,400 birr.
July 9. Paid Trunk manufacturer in full
July 12. Received payment in full from satchel world
July 17. Sold suitcase on account to Lady GoGo for 1,400 birr. The cost of suitcase sold was 1,030birr
July 18. Purchased suitcase on account for 1,900 birr from holiday manufacturers ,FOB shipping points 1/10, n/30. The appropriate party also made a cash payment of 125 birr for freight on this date.
July 20. Received 300 birr credit(including freight) suitcase returned holiday manufacturer.
July 21. Received payment in full from Lady GoGo.
July 22. Sold suitcase on account to Vagabond for 2,400 birr. The cost of suitcase sold was 1,350 birr.
July 30. paid holiday manufacturer in full.
July 31. Granted Vagabond 300 birr crefit for suitcase returned costing 120 birr.
INSTRUCTIONS
Journalize the transaction for the month of July for Ready-Set-Go.Ltd,using perpetual inventory system
Answered by jessica_777444
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Answered by Ownjskn
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Answered by Ownjskn
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