The following selected transactions were completed by Betz Company during July of the current year. Betz Company uses the net method under a perpetual inventory system. CHART OF ACCOUNTS Betz Company 1 Purchased merchandise from Sabol Imports Co., $13,701, terms FOB July General Ledger destination, n/30. ASSETS REVENUE 3 Purchased merchandise from Saxon Co., 110 Cash 410 Sales $8,950, terms FOB shipping point, 2/10, 120 Accounts Receivable 610 Interest Revenue n/eom. Prepaid freight of $225 was 125 Notes Receivable added to the invoice. 5 Purchased merchandise from Schnee 130 Inventory EXPENSES 131 Estimated Returns 510 Cost of Goods Sold Co., $13,450, terms FOB destination, 2/10, n/30. Inventory 521 Delivery Expense 6 Issued debit memo to Schnee Co. for 140 Office Supplies 522 Advertising Expense merchandise with an invoice amount of 141 Store Supplies 524 Depreciation $4,250 returned from purchase on July 5. 142 Prepaid Insurance Expense-Store 13 Paid Saxon Co. for invoice of July 3. 180 Land Equipment 14 Paid Schnee Co. for invoice of July 5, 192 Store Equipment 525 Depreciation less debit memo of July 6. 193 Accumulated Expense-Office 19 Purchased merchandise from Southmont Depreciation-Store Equipment Co., $28,290, terms FOB shipping point, Equipment 526 Salaries Expense n/eom. 194 Office Equipment 531 Rent Expense Paid freight of $420 on July 19 purchase 195 Accumulated 533 Insurance Expense from Southmont Co. Depreciation-Office 534 Store Supplies 20 Purchased merchandise from Stevens Equipment Expense Co., $20,200, terms FOB destination, 535 Office Supplies 1/10, n/30. LIABILITIES Еxpense 30 Paid Stevens Co. for invoice of July 20. 211 Accounts Payable-Sabol 536 Credit Card Expense 31 Paid Sabol Imports Co. for invoice of July Imports Co. 539 Miscellaneous 1. 212 Accounts Payable- Expense 31 Paid Southmont Co. for invoice of July Saxon Co. 710 Interest Expense 19. 213 Accounts Payable- Schnee Co. 214 Accounts Payable- Southmont Co. 215 Accounts Payable- Stevens Co. 216 Salaries Payable 218 Sales Tax Payable 219 Customer Refunds Payable 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends