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.

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Definitions:

Tibet

A region in Central Asia covering the Tibetan Plateau, known for its high altitudes and significant cultural heritage.

Crustal Thickness

The measure of the thickness of Earth's crust, which varies between the oceanic and continental crust.

Volcanism

the process through which magma and volcanic gases are expelled onto the Earth's surface, forming volcanic features.

Foreland Basin

A basin that forms when crust (either continental or oceanic) is warped by the weight of thrust sheets, especially when formed between a mountain belt and continental interior.