My professor wants us to journal these.

Jan 2. Sold merchandise on account, $8000, terms FOB shippingpoint, n/eom. The
cost was $6000.
Jan 8. Sold merchandise on account $ 20,000, terms FOB destination,1/10, n/30. The
cost was 14,000
16- sold merch on acc 12,000 terms FOB shipping point, 1/10, n/30.cost was 7,200
18- received check for amount due for sale on Jan 8
19 issued credit memo and for 3000 for merch returned from sale jan16. the cost of
merch returned, 1,800
26-received check for amount due for sale on jan 16 less creditmemo of jan 19 and discount
31- paid gallatin delivery service 1,500 for merch delivered duringJan to customers under
shipping terms of FOB destination
31 received check for amount due for sale on jan 2.

BUYER POV

Silvergate Co.

May 3. purchased merch for, 16,000m terms FOB destination, 2/10,n/30.
6- issed debit memo for 4000 of merch returned from purchase on may3
10 purchased merch, 25000 terms FOB shipping point, n/eom
10-paid freight of 600 on many 10 purchase
13- paid for invoice of may 3 less debit memo of may 6 anddiscount
31 paid for invoice of may 10

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Bunny GreenfelderLv2

29 Sep 2019

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The following selected transactions were completed by LorimerCompany during August of the current year. Lorimer Company uses theperiodic system and a perpetual inventory system

Aug 3. Purchased $24,500 of merchandise on account, FOB shippingpoint, terms 2/10 n/30.
4. Paid transportation costs of $475 on the August 3purchase.
7. Returned $4,000 of the merchandise purchased on August 3.
11. Sold merchandise on account, 12,700 FOB destination, 2/15,n/30. The cost of merchandise sold was 7,600.
12. Paid transportation costs of 300 for the merchandise sold onAugust 11.
13. Paid for the purchase of August 3 less the return anddiscount
26. Received payment on account for the sale of August 11 less thediscount.

byzantiumcicada465

Prepare General Journal entries to record the followingperpetual system merchandising transactions ofBunbury Company.Use a separate account for each receivable and payable; forexample, record the purchase on January 1 in AccountsPayable-Waterton Company.

Jan. 1 Purchased merchandise from Waterton Company forâ¬18,000 under credit terms of 2/15, n/30, FOB shipping point. Theinvoice showed that Waterton paid â¬250 for shipping and added thatto the bill. Thus, the total invoice was for â¬18,250.

5 Sold merchandise to Maryland Corp. for â¬3,500under credit terms of 1/10, n/45, FOB destination. The merchandisehad a cost â¬1,700.

9 Purchased merchandise from Walker Corporationfor â¬8,500 under credit terms of 2/10, n/30, FOB destination.

10 At Walkerâsrequest, paid â¬350 of shipping charges on the January 9 purchase,reducing the amount owed to Walker.

11 Paid â¬210shipping charges related to the January 5 sale to MarylandCorp.

12 Marylandreturned merchandise from the January 5 sale that had cost â¬300 andbeen sold for â¬500. The merchandise was restored to inventory.

13 Afternegotiations with Walker Corporation concerning problems with themerchandise purchased on January9, received a credit memorandumfrom Walker granting a price reduction of â¬700.

14 Receivedbalance due from Maryland Corp. for the January 5 sale.

16 Purchasedoffice equipment from BlueCo, signing a 60-day note payable forâ¬5,300.

17 Paid the amountdue to Walker Corporation for the January9 purchase.

18 Soldmerchandise to RoseCo for â¬12,500 under credit terms of 2/10, n/60,FOB shipping point. The merchandise had a cost â¬6,200.

21 RoseCorequested a price reduction on the January 18 sale because some ofthe merchandise was damaged. Sent RoseCo a credit memorandum forâ¬1,250 to resolve the issue.

28 ReceivedRoseCoâs payment of the amount due from the January 18sale.

30 Paid WatertonCompany the amount due from the January 1 purchase.

ceriseimpala977

The following selected transactions were completed by AmsterdamSupply Co., which sells office supplies primarily to wholesalersand occasionally to retail customers. Also note that the companyuses a clearing house to take care of all bank as well as non-bankcredit cards used by its customers.

Record on page 10 of the journal

Mar.	2	Sold merchandise on account toEquinox Co., $18,900, terms FOB destination, 1/10, n/30. The costof the goods sold was $13,300.
	3	Sold merchandise for $11,350 plus6% sales tax to retail cash customers. The cost of the goods soldwas $7,000.
	4	Sold merchandise on account toEmpire Co., $55,400, terms FOB shipping point, n/eom. The cost ofthe goods sold was $33,200.
	5	Sold merchandise for $30,000 plus6% sales tax to retail customers who used MasterCard. The cost ofthe goods sold was $19,400.
	12	Received check for amount due fromEquinox Co. for sale on March 2.
	14	Sold merchandise to customers whoused American Express cards, $13,700. The cost of the goods soldwas $8,350.
	16	Sold merchandise on account toTarghee Co., $27,500, terms FOB shipping point, 1/10, n/30. Thecost of the goods sold was $16,000.
	18	Issued credit memo for $4,800 toTarghee Co. for merchandise returned from sale on March 16. Thecost of the merchandise returned was $2,900.

Record on page 11 of the journal

Mar.	19	Sold merchandise on account toVista Co., $8,250, terms FOB shipping point, 2/10, n/30. Added $75to the invoice for prepaid freight. The cost of the goods sold was$5,000.
	26	Received check for amount due fromTarghee Co. for sale on March 16 less credit memo of March 18.
	28	Received check for amount due fromVista Co. for sale of March 19.
	31	Received check for amount due fromEmpire Co. for sale of March 4.
	31	Paid Fleetwood Delivery Service$5,600 for merchandise delivered during March to customers undershipping terms of FOB destination.
Apr.	3	Paid City Bank $940 for servicefees for handling MasterCard and American Express sales duringMarch.
	15	Paid $6,544 to state sales taxdivision for taxes owed on sales.

Journalize the entries to record the transactions of AmsterdamSupply Co. Refer to the Chart of Accounts for exact wording ofaccount titles.

Amsterdam Supply Co.

General Ledger

	ASSETS
110	Cash
121	Accounts Receivable-Empire Co.
122	Accounts Receivable-EquinoxCo.
123	Accounts Receivable-TargheeCo.
124	Accounts Receivable-Vista Co.
125	Notes Receivable
130	Inventory
131	Estimated Returns Inventory
140	Office Supplies
141	Store Supplies
142	Prepaid Insurance
180	Land
192	Store Equipment
193	Accumulated Depreciation-StoreEquipment
194	Office Equipment
195	Accumulated Depreciation-OfficeEquipment