Part 1 and Part 2: Palisade Creek Co. is a merchandising business that uses the perpetual inventory system. The account balances for Palisade Creek Co. as of May 1, 2019 (unless otherwise indicated), are as follows: 110 Cash $83,600 112 Accounts Receivable 233,900 115 Merchandise Inventory 624,400 116 Estimated Returns Inventory 28,000 117 Prepaid Insurance 16,800 118 Store Supplies 11,400 123 Store Equipment 569,500 124 Accumulated Depreciation-Store Equipment 56,700 210 Accounts Payable 96,600 211 Customer Refunds Payable 50,000 212 Salaries Payable 310 Lynn Tolley, Capital, June 1, 2018 685,300 311 Lynn Tolley, Drawing 135,000 410 Sales 5,069,000 510 Cost of Merchandise Sold 2,823,000 520 Sales Salaries Expense 664,800 521 Advertising Expense 281,000 522 Depreciation Expense 523 Store Supplies Expense 529 Miscellaneous Selling Expense 12,600 530 Office Salaries Expense 382,100 531 Rent Expense 83,700 532 Insurance Expense 539 Miscellaneous Administrative Expense 7,800 For a compound transaction, if an amount box does not require an entry, leave it blank or enter "0". May 1: Paid rent for May, $5,000. Description Post. Ref. Debit Credit May 3: Purchased merchandise on account from Martin Co., terms 2/10, n/30, FOB shipping point, $36,000. Description Post. Ref. Debit Credit May 4: Paid freight on purchase of May 3, $600. Description Post. Ref. Debit Credit

1. Merchandise with a list price of $7,425 is purchased on account, terms FOB shipping point, n/30. The seller prepaid transportation costs of $300. Prior to payment, $1,000 of the merchandise is returned. The correct amount is paid within the discount period.(net method) Record the foregoing transactions of the buyer in the sequence indicated below. a) Purchased the merchandise b) Recorded receipt of the credit memorandum for merchandise returned. c) Paid the amount owed.

Determine the amount to be paid in full settlement of each of the following invoices, assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period.     Merchandise Freight Paid by Seller     Returns and Allowances a. $21,800   -     FOB shipping point, 1/10, n/30 $1,100   b. 12,000   $500     FOB shipping point, 1/10, n/30 1,400   c. 6,500   -     FOB destination, 1/10, n/30 600   d. 2,900   100     FOB shipping point, 1/10, n/30 400   e. 3,600   -     FOB destination, 1/10, n/30 -     a.  $fill in the blank 1 b.  $fill in the blank 2 c.  $fill in the blank 3 d.  $fill in the blank 4 e.  $fill in the blank 5

Shore Co. sold merchandise to Blue Star Co. on account, $112,000, terms FOB shipping point, 2/10, n/30. The cost of the goods sold is $67,200. Shore Co. paid freight of $1,800. Journalize the entries for Shore and Blue Star for the sale, purchase, and payment of amount due. Refer to the appropriate company’s Chart of Accounts for exact wording of account titles.   CHART OF ACCOUNTS Shore Co. General Ledger   ASSETS 110 Cash 121 Accounts Receivable-Blue Star Co. 125 Notes Receivable 130 Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation-Office Equipment   LIABILITIES 210 Accounts Payable 218 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent 221 Notes Payable   EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary…

Determine the amount to be paid in full settlement of each of two invoices, (a) and (b), assuming that credit for returns and allowances was received prior to payment and that all invoices were paid within the discount period. If required, round the answers to the nearest dollar. a. b. a. S b. $ Merchandise (Invoice Amount) $5,550 2,600 Freight Paid by Seller $700 300 Freight Terms FOB destination, 2/10, n/30 FOB shipping point, 1/10, n/30 Returns and Allowances (Invoice Amount) $1,300 800

please answer all with working

prepare a journal entry to record transaction Buyer buys merchandise for 3,000, credit terms 2/10 n/30. Merchandise cost 1800

Journalize the following merchandise transactions:c. Issued a credit memo to Wilson Company for returned merchandise that was sold for $4,000, terms n/30. The cost of the merchandise returned was $2,275

Merchandise with a list price of $3,900 and costing $2,000 is sold to a customer (MJ Co.) on account, subject to the following terms: 2/10, n/30.  The seller (Stone Co.) prepays the transportation costs of $50, shipping terms are FOB Destination.  The correct payment amount is received from the buyer within the discount period.   Record the foregoing transactions of the SELLER (Stone Co.) in the sequence indicated below (omit the 4th journalizing step of providing an explanation): (a) Sold the merchandise, recognizing the sale and cost of merchandise sold. (b) Paid the $50 transportation charges. (c) Received payment from the customer.   Record the foregoing transactions of the BUYER (MJ Co.) in the sequence indicated below (omit the 4th journalizing step of providing an explanation):   (d) Bought the merchandise.   (e) Sent payment to the vendor.   JOURNAL   Date                                                                             Post.…