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KG Enterprises had the following transactions during December, the last month of the accounting period:...

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Accounting

KG Enterprises had the following transactions during December, the last month of the accounting period:

Dec 1 Sold merchandise on credit for $9,000 , cost $6,000 terms 1/10, n/30.

Dec 3 Purchased merchandise for cash, $1,350 .

Dec 4 Purchased merchandise on credit for $6,900 , terms 2/10, n/30.

Dec 5 Issued a credit memorandum for $750 to a customer who returned merchandise purchase November 29, cost $450 .

Dec 11 Received payment for merchandise sold December 1.

Dec 15 Received a credit memorandum for $750 for the return of faulty merchandise purchased on December 4.

Dec 18 Paid freight charges of $150 for merchandise ordered last month.

Dec 23 Paid for the merchandise purchased December 4 less merchandise returned.

Dec 24 Sold merchandise on credit for $12,000 , terms 1/10 n/30, cost $9,750 .

Dec 31 Received payment for merchandise sold on December 24.

Prepare general journal entries to record these transactions using a perpetual inventory system. You can omit explanations but show any required calculations. Omit GST and PST.

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