Company uses a perpetual inventory system

Company uses a perpetual inventory system Prepare the necessary journal entries to record the following transactions, assuming Moran Company uses a perpetual inventory system. (a) Moran sells $50,000 of merchandise, terms 1/10, n/30. The merchandise cost $30,000. (b) The customer in (a) returned $5,000 of merchandise to Moran. The merchandise returned cost $3,000. (c) Moran received the balance due within the discount period. Business Management Assignment Help, Business Management Homework help, Business Management Study Help, Business Management Course Help