Bargain Wholesalers Sells Pet Supplies to Retailers Including Pet World

question 220

Essay

Bargain Wholesalers sells pet supplies to retailers including Pet World Supplies. Bargain Wholesalers uses a perpetual inventory. Journalize the following transactions:?May 4Bargain Wholesalers sells inventory to Pet World Supplies for $8,250 with terms 1/10, n/30. The cost of the merchandise is $5,755.7Bargain Wholesalers sells an additional $10,985 in inventory to Pet World Supplies with terms 1/10, n/30. The cost of the merchandise is $6,925.13Bargain Wholesalers receives a check from Pet World Supplies paying the balance due on both invoices.?? $$\begin{array}{l}\text { Journal }\\\begin{array} {| l | c | c | c | c | } \hline \text { Date } & \text { Description } & \begin{array} { l } \text { Post. } \\\text { Ref. }\end{array} & \text { Debit } & \text { Credit } \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline & & & & \\\hline\end{array}\end{array}$$

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Definitions:

Reconstituted Medications

Medications that have been returned to a liquid state from a powder by adding a specific amount of solvent.

Levothyroxine Sodium

A synthetic thyroid hormone commonly prescribed to treat hypothyroidism, it helps to regulate the body's energy and metabolism.

Hypothyroidism

A condition in which the thyroid gland doesn't produce enough thyroid hormone, leading to low energy levels, cold sensitivity, and weight gain.

Reconstitution

The process of adding a diluent to a powdered or concentrated substance to prepare a liquid solution or suspension for administration.