Prepare Journal Entries for the Following Transactions for HO Train

question 9

Essay

Prepare journal entries for the following transactions for HO Train Shop applying the perpetual inventory system.Omit explanations.
$\begin{array}{llcc} \text {Mar. } & \text { 2 Purchased on account 200 model engines for \( \$ 2,000 \). } & \\ &\text { 12 Returned 20 engines for full credit. } &\\ &\text {19 Sold 50 of the engines to \( R \). Holmes for \( \$ 1,000 \) cash } &\\& \text { 25 Paid the balance due on the engines. } &\\\end{array}$

---

Definitions:

Iron

A metallic element (Fe) that is vital for biological processes in humans and other organisms, such as oxygen transport and cellular metabolism.

Scrap Metal

Waste metal materials that can be recycled and reused, often collected from leftover products, buildings, or discarded industrial machinery.

Energy

The capacity to do work, manifest in forms such as heat, light, motion, and chemical bonds, essential to human society for various applications.

Transfer Heat

The movement of thermal energy from one object or substance to another, through various modes such as conduction, convection, or radiation.