Question1 uChampion Vaccine (uCV) Pharma Transactions for the month of May, 2022 are given below....
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Question1 uChampion Vaccine (uCV) Pharma Transactions for the month of May, 2022 are given below. May-01 Purchased 2000 vaccine dozes for $2 each on credit from Safety Pharma (SP), terms 3/10, n/30, DDP buyers warehouse. May-05 Sold 1900 dozes to Modern Hospital (MH) for $2.50 each on account, terms 2/15, n/30, DDP buyers warehouse. Paid freight cost of $260. May-08 Modern Hospital returned 200 dozes. The dozes were not defective and were returned to stock. May-09 Paid the supplier Safety Pharma (SP) the amount owed for the 1 May purchase. May-13 Received payment from Modern Hospital (MH) for the amount due on 5 May sale. Required: Using Perpetual Inventory System. Prepare the general journal entries to record the above transactions. Narrations are not required. Ignore GST.
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