Prepare journal entries for the following transactions for Jane's Violin Shop applying the perpetual inventory system.Omit explanations.
Definitions:
K-12 School Year
The educational period or academic years that include kindergarten through 12th grade in many countries, marking the compulsory stages of schooling.
Resources Are Scarce
The economic principle that the amounts of natural resources, goods, and services available are limited in relation to the desires and needs of people.
Households
The basic economic unit of a society, typically consisting of people living together in the same dwelling.
Societies
Groups of individuals who share a common culture, institutions, or identity, often living together within a defined geographical area.
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