Assignment Content
Nen Company uses a perpetual inventory system. During May, the following transactions and events occurred.
May 13 Sold 12 motors at a cost of $40 each to Slater Brothers Supply Company, terms 1/10, n/30. The motors cost Nen $25
each.
May 16 Two defective motors were returned to Nen.
May 23 Received payment in full from Slater Brothers.
Instructions
Journalize the May transactions for Nen Company (seller) assuming that Nen uses a perpetual inventory system. You may omit explanations.
