Journalize the Following Transactions for Park Gift Shop $\$ 5,200,2 / 15 , r / 30$

question 149

Essay

Journalize the following transactions for Park Gift Shop.Explanations are not required.Park uses a perpetual inventory system.
Mar.5: Purchased $4,400 of merchandise inventory on account,3/10,n/EOM and FOB shipping point.
Mar.9: Returned $700 of defective merchandise purchased on March 5.
Mar.11: Paid the freight bill of $250 on the March 5 purchase.
Mar. 12: Sold merchardise irventory on account for $\$ 5,200,2 / 15 , r / 30$ . These goods cost the corripary $\$ 3,700$ . Mar.14: Paid amount owed on credit purchase of March 5,less the return and the discount.
Mar.30: Received cash from the March 12 customer in full settlement of the debt.

Recognize and correct grammatical errors in a variety of sentence structures.

Correctly interpret and apply rules of capitalization to academic degrees and professional titles.

Understand the basic functions and drawbacks of various IRM tools and collaborative programs.

Distinguish between different types of software (e.g., cloud applications, project planning tools, desktop publishing programs) and their primary purposes.

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Definitions:

Justification

Providing sufficient reasons, evidence, or arguments to support a claim, belief, or action as valid or acceptable.

Premise

An assertion or proposition which forms the basis for a work's conclusion; in logic, it is the antecedent of an argument.

Simp

A slang term often used to describe someone who performs excessive subservience or attention to another person, typically someone they're interested in, often disregarding their own needs or dignity.

MP

Short for Modus Ponens, a form of argument in logic where if the first statement is true, then the second statement must also be true (If P, then Q. P, therefore Q).