PLEASE ANSWER ASAP, WILL GIVE THUMBS UP! QUESTION ONE On May 11, 2020, Wilson Purchasing purchased $30,000 of merchandis

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PLEASE ANSWER ASAP, WILL GIVE THUMBS UP!
QUESTION ONE On May 11, 2020, Wilson Purchasing purchased
$30,000 of merchandise from Hostel Sales; terms 3/10, n/90, FOB
Hostel Sales. The cost of the goods to Hostel was $20,000. Wilson
issued cheque #84 in the amount of $335 to pay Express Shipping
Service for the delivery charges on the merchandise on May 11. On
May 12, Wilson returned $1,200 of goods to Hostel Sales, which
restored them to inventory. The returned goods had cost Hostel
$800. On May 20, Wilson mailed cheque #85 to Hostel for the amount
owed on that date. Hostel received and recorded the cheque on May
21.
Required: 1. Record the transactions for Wilson Purchasing in a
Purchases Journal, Cash Disbursements Journal, and General Journal
as appropriate assuming a perpetual inventory system. (Enter the
transactions in the order provided in the question.)
WILSON
PURCHASING
Purchases
Journal Date ,
Account Credited, Date of Invoice, Terms, Accounts Payable Cr.,
Merchandise Inventory Dr., Office Supplies Dr., Other Accounts
Dr.
WILSON PURCHASING
Cash Disbursements Journal
Date Ch. No.
Payee Account Debited
Cash Cr. Merchandise
Inventory Cr. Other Accounts Dr.
Accounts Payable Dr.
PLUS JOURAL ENTRY WORK SHEET PLEASE: RECORD OF THE RETURN OF
MERCHANDISE for may 12th
2. Record the transactions for Hostel Sales in a Sales Journal,
Cash Receipts Journal, and General Journal as appropriate assuming
a perpetual inventory system. Also assume invoice #1601 for the May
11 sale. (Enter the transactions in the order provided in the
question.)
HOSTEL SALES
Sales Journal
Date, Account Debited,
Invoice Number,
Accounts Receivable Dr.Sales Cr.,
Cost of Goods Sold Dr.Merchandise Inventory Cr.
HOSTEL
SALES
Cash Receipts
Journal
Date, Account Credited, Explanation, Cash Dr., Sales Discounts
Dr., Accounts Receivable Cr., Sales Cr., Other Accounts Cr., Cost
of Goods Sold Dr. Merchandise Inventory Cr.
journal entry worksheet: may 12th
1: Record the sales return.
2: Record the cost of merchandise returned to inventory.