Journalize the following transactions using the allowance method of accounting for uncollectible receivables. April 1 Sold merchandise on account to Jim Dobbs, $6,000. The cost of the merchandise is $7,200. If an amount box does not require an entry, leave it blank. April 1   fill in the blank 84396d094fddfdf_2 fill in the blank 84396d094fddfdf_3     fill in the blank 84396d094fddfdf_5 fill in the blank 84396d094fddfdf_6 April 1   fill in the blank 84396d094fddfdf_8 fill in the blank 84396d094fddfdf_9     fill in the blank 84396d094fddfdf_11 fill in the blank 84396d094fddfdf_12 June 10 Received payment for one-third of the receivable from Jim Dobbs and wrote off the remainder. If an amount box does not require an entry, leave it blank. June 10   fill in the blank 19ebf5fd6006061_2 fill in the blank 19ebf5fd6006061_3     fill in the blank 19ebf5fd6006061_5 fill in the blank 19ebf5fd6006061_6     fill in the blank 19ebf5fd6006061_8 fill in the blank 19ebf5fd6006061_9 Oct. 11 Reinstated the account of Jim Dobbs and received $4,000 cash in full payment. If an amount box does not require an entry, leave it blank. Oct. 11   fill in the blank 6fc496fbe079fdb_2 fill in the blank 6fc496fbe079fdb_3     fill in the blank 6fc496fbe079fdb_5 fill in the blank 6fc496fbe079fdb_6 Oct. 11   fill in the blank 6fc496fbe079fdb_8 fill in the blank 6fc496fbe079fdb_9     fill in the blank 6fc496fbe079fdb_11

E9.3

Problem 5-10A Journal entries for merchandising transactions-periodic LO7 Prepare General Journal entries to record the following periodic system merchandising transactions for Safety Merchandising. Use separate account for each receivable and payable: October 1 Purchased merchandise from Zeon Company on credit, terms 2/10, n/30, $15,800. 2 Sold merchandise for cash, $2,100. 7 Purchased merchandise on credit from Billings Co., terms 2/10, n/30, $11,600, FOB the seller's factory. 7 Paid $450 cash for freight charges on the merchandise shipment of the previous transaction. 8 Purchased delivery equipment from Finlay Supplies on credit, $24,000. 12 Sold merchandise on credit to Comry Holdings, terms 2/15, 1/30, n/60, $5,800. 13 Received a $1,500 credit memo for merchandise purchased on October 7 and returned for credit. 13 Purchased office supplies on credit from Staples, $620, n/30. 15 Sold merchandise on credit to Tom Willis, terms 2/10, 1/30, n/60, $4,650. 15 Paid for the merchandise…

Pharoah Company sells merchandise on account for $3600 to Morton Company with credit terms of 2/14, n/30. Morton Company returns $600 of merchandise that was damaged, along with a check to settle the account within the discount period. What entry does Pharoah Company make upon receipt of the check? Cash    2940   Sales Returns and Allowances 600   Sales Discounts 60             Accounts Receivable      3600 Cash    2940   Sales Returns and Allowances 660             Accounts Receivable      3600 Cash 3000             Accounts Receivable      3000 Cash    3528   Sales Discounts 72             Sales Returns and Allowances   600           Accounts Receivable      3000