Prepare Journal Entries for the Following Transactions for HO Train

Essay

Prepare journal entries for the following transactions for HO Train Shop applying the perpetual inventory system.Omit explanations.
$\begin{array}{llcc} \text {Mar. } & \text { 2 Purchased on account 200 model engines for \( \$ 2,000 \). } & \\ &\text { 12 Returned 20 engines for full credit. } &\\ &\text {19 Sold 50 of the engines to \( R \). Holmes for \( \$ 1,000 \) cash } &\\& \text { 25 Paid the balance due on the engines. } &\\\end{array}$