On September 12, Vander Company sold merchandise in the amount of $5,900 to Jepson Company, with credit terms of 3/10, n/30. The cost of the items sold is $4,100. Vander uses the periodic inventory sys the gross method of accounting for sales. The journal entry or entries that Vander will make on September 12 is (are): Multiple Choice Sales 5,900 Accounts receivable 5,900 Sales 5,900 Accounts receivable 5,900 Cost of goods sold Merchandise Inventory 4,100 4,100 Accounts receivable 5,90e Sales 5,900 Accounts receivable 5,900 Sales 5,900 Cost of goods sold 4,10e

On December 22, Travis Company purchased merchandise on account from a supplier for $7,500, terms 2/10, net 30. Travis Company paid for the merchandise within the discount period on December 31. Required:   Under a perpetual inventory system, record the journal entries required for the above transactions. Refer to the Chart of Accounts for exact wording of account titles.     Chart of Accounts     CHART OF ACCOUNTS Travis Company General Ledger   ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Merchandise Inventory 131 Estimated Returns Inventory 140 Supplies 142 Prepaid Insurance 180 Land 190 Equipment 191 Accumulated Depreciation   LIABILITIES 210 Accounts Payable 216 Salaries Payable 221 Sales Tax Payable 222 Customers Refunds Payable 231 Unearned Rent 241 Notes Payable   EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary   REVENUE…

On March 10, the Stone Company sold merchandise listing for $3,000 to the Dillard Company, terms 1/10, n/30. On March 14, $200 worth of merchandise was returned because it was the wrong size. On March 20, Stone Company received a check for the amount due. Required Record the journal entries made by Stone Company for these transactions Stone uses the periodic inventory system General Journal Description Date Mar 10 Accounts Receivable Cath Sold merchandises Dund Company terms 1/16/30 14 Merchande returned by Dars Company 20 Cash Remittance received from Dard Company # 1 Debit 1.000 00 Credit 1.000 0 O 0

Presented here are selected transactions for the Pharoah Company during April. Pharoah uses the perpetual inventory system. April 1: Sold merchandise to Mann Company for $6,400, terms 2/10, n/30. The merchandise sold had a cost of $2,600. April 2: Purchased merchandise from Wild Corporation for $7,800, terms 1/10, n/30. April 4: Purchased merchandise from Ryan Company for $1,000, n/30. April 10: Received payment from Mann Company for purchase of April 1 less appropriate discount. April 11: Paid Wild Corporation for April 2 purchase. Journalize the April transactions for Pharoah Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

Prepare journal entries to record the following merchandising transactions of Lowe's, which uses the perpetual inventory system and the gross method. August 1 Purchased merchandise from Aron Company for $7,000 under credit terms of 1/10, n/30, FOB destination, invoice dated August 1. August 5 Sold merchandise to Baird Corporation for $4,900 under credit terms of 2/10, n/60, FOB destination, invoice dated August 5. The merchandise had cost $3,000. August 8 Purchased merchandise from Waters Corporation for $6,000 under credit terms of 1/10, n/45, FOB shipping point, invoice dated August 8. August 9 Paid $150 cash for shipping charges related to the August 5 sale to Baird Corporation. August 10 Baird returned merchandise from the August 5 sale that had cost Lowe's $500 and was sold for $1,000. The merchandise was restored to inventory. August 12 After negotiations with Waters Corporation concerning problems with the purchases on August 8, Lowe's received a price reduction from Waters of…

Journalize the following transactions for Armour Inc. Oct. 7 Sold merchandise on credit to Rondo Distributors, for $1,200, terms n/30. The cost of the merchandise was $720. Purchased merchandise, $10,000, terms FOB shipping point, 2/15, n/30, with prepaid freight charges of $525 added to the invoice. Journalize the transactions above using the periodic inventory system. If an amount box does not require an entry, leave it blank. Oct. 7 Oct. 8 Journalize the transactions above using the perpetual inventory system. Oct. 7- Sale Cost Oct. 8

On March 12, Klein Company sold merchandise in the amount of $7,800 to Babson Company, with credit terms 2/10, n30. The cost of the items sold is $4,500. Klein uses PERPETUAL inventory system and the GROSS METHOD of accounting for sales. Babson pays the invoice on March 17th and takes the appropriate discount. What is the journal entry Klein makes on March 17th?