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Discussions List > View Topic Reflection Dicussion #8 > Available on Oct 25, 2021 11:00 PM. Access restricted before availability starts. L Available until Nov 8, 2021 11:00 PM. Sub Subscribe This Forum is for students to submit their weekly reflections regarding concepts learned. There are 13 reflections and the course value is 20%. We will take the best marks from 10/13 reflections. Rules: Please be respectful in your submissions and opportunities to present what you learned or where there were gaps present an opportunity for your professor to support your learning and also for your peers to contribute to the overall learning process of everyone. You must post your initial response/reflection to the discussion question for your professor to comment on before you can view responses or respond to your classmate's comments. Discussions are graded out of 2. If you provide a correct and complete answer to the question(s), you should earn 2/2. The grade goes down from there depending on the completeness & accuracy of your response. For example, no response, or a one or two word answer such as 'Yes' or 'No' , will most likely result in a grade of 0/2. The objective of having you participate in a discussion forum is to allow you to demonstrate your understanding of the course learning outcomes. Reflection Dicussion #8 - Discussion Due Nov 8, 2021 11:00 PM ACCT1100 Principles of Accounting 1 (Online) Suppose you are being interviewed for a bookkeeping job for a retailer that uses a perpetual inventory system. The employer feels that the only way to determine whether or not the person being interviewed actually understands how to record transactions, is to ask them to provide an example showing the accounts (no amounts necessary) that would be debited and credited for the following: 1. Purchase merchandise inventory on account. 2. Sale of goods on account 3. Return of part of the merchandise purchased in 1. above to the supplier. 4. Payment to supplier, taking advantage of the discount that was offered. 5. Return of goods by customer for credit. 6. Payment received from customer, taking advantage of discount that was offered. Required: List the transaction number 1. etc... and the accounts to be debited and credited in the journal entry Reflection Dicussion #8 Starts Oct 25, 2021 11:00 PM

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