Purchase-Related Transactions Journalize entries for the following related transactions of Manville Heating & Air Company: a.  Purchased $48,000 of merchandise from Wright Co. on account, terms 2/10, n/30.   Merchandise Inventory  fill in the blank 13255f0bbfa806d_2     Accounts Payable-Wright Co.    fill in the blank 13255f0bbfa806d_4 b.  Paid the amount owed on the invoice within the discount period.   Accounts Payable-Wright Co.  fill in the blank 287657090fdcf92_2     Cash    fill in the blank 287657090fdcf92_4 c.  Discovered that $9,600 of the merchandise purchased in (a) was defective and returned items, receiving credit.   Accounts Payable-Wright Co.  fill in the blank bebb1cfe102e03e_2     Merchandise Inventory    fill in the blank bebb1cfe102e03e_4 d.  Purchased $7,600 of merchandise from Wright Co. on account, terms n/30.   Merchandise Inventory  fill in the blank 2d88fb0c1027f88_2     Accounts Payable-Wright Co.    fill in the blank 2d88fb0c1027f88_4 e.  Received a refund from Wright Co. for return in (c) less the purchase in (d).   Cash  fill in the blank e7d37efcaff5f8e_2     Accounts Payable-Wright Co.    fill in the blank e7d37efcaff5f8e_4

Purchase-Related Transactions Journalize entries for the following related transactions of Manville Heating & Air Company: a.  Purchased $22,000 of merchandise from Wright Co. on account, terms 2/10, n/30.   Merchandise Inventory        Accounts Payable-Wright Co.      b.  Paid the amount owed on the invoice within the discount period.   Accounts Payable-Wright Co.        Cash      c.  Discovered that $4,400 of the merchandise purchased in (a) was defective and returned items, receiving credit.   Accounts Receivable-Wright Co.        Merchandise Inventory      d.  Purchased $3,400 of merchandise from Wright Co. on account, terms n/30.   Merchandise Inventory        Accounts Payable-Wright Co.      e.  Received a refund from Wright Co. for return in (c) less the purchase in (d).   Sales Returns and Allowances

Record the following transactions as general journal entries. Use the gross-price method. Aug.   6 Purchased $830 of merchandise on account from Johnston Co. Credit terms 2/10, n/30. 8 Bought an $18,000 truck from Pillner Co., paying $3,000 down; balance on account. 13 Purchased $2,611 of merchandise for cash from Pillner and Co. 15 Paid for the August 6 purchase of merchandise from Johnston Co. 17 Purchased $1,743 of merchandise from Luis Co. Credit terms 2/10, n/30. If an amount box does not require an entry, leave it blank.

Create General Journal entries

Record the following transactions as general journal entries. Use the gross-price method. Aug.   6 Purchased $830 of merchandise on account from Johnston Co. Credit terms 2/10, n/30. 8 Bought an $18,000 truck from Pillner Co., paying $3,000 down; balance on account. 13 Purchased $2,611 of merchandise for cash from Pillner and Co. 15 Paid for the August 6 purchase of merchandise from Johnston Co. 17 Purchased $1,743 of merchandise from Luis Co. Credit terms 2/10, n/30. If an amount box does not require an entry, leave it blank. If required, round answers to the nearest cent. Page: 1   DATE ACCOUNT TITLE DOC.NO. POST.REF. DEBIT CREDIT   1 Aug. 6       fill in the blank 2 fill in the blank 3 1 2         fill in the blank 5 fill in the blank 6 2 3 Aug. 8       fill in the blank 8 fill in the blank 9 3 4         fill in the blank 11 fill in the blank 12 4 5         fill in the blank 14 fill in the blank 15 5 6 Aug. 13       fill in the blank 17 fill in the…

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

Sales and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions were completed during April between Swan Company and Bird Company. Both companies use the net method under a perpetual inventory system. Ap 2. Swan Company sold merchandise on account to Bird Company, $54,800, terms FOB shipping point, 2/10, n/30. Swan paid freight of $1,620, which was added to the invoice. The cost ef the goods sold was $33,180. 8. Swan Company sold merchandise on account to Bird Company, $48,300, terms FOB destination, 1/15, n/eom. The cost of the goods sold was $25,920. 8. Swan Company paid freight of $1,205 for delivery of merchandise sold to Bird Company on April 8. 12. Bird Company paid Swan Company for purchase of April 2. 23. Bird Company paid Swan Company for purchase of April 24. Swan Company sold merchandise on account to Bird Company, $66,060, terms FOB shipping point, n/eom. The cost of the goods sold was $37,140. 25. Swan…

Travis Company purchased merchandise on account from a supplier for $12,300, terms 2/10, net 30. Travis Company paid for the merchandise within the discount period. Under a perpetual inventory system, record the journal entries required for the above transactions. If an amount box does not require an entry, leave it blank. a. b.

Current Attempt in Progress Prepare the necessary journal entries to record the following transactions, assuming Cullumber Company uses a perpetual inventory system. (a) Cullumber sells $57,500 of merchandise, terms 1/10, n/30. The merchandise cost $39,220. (b) The customer in (a) returned $5,300 of merchandise to Cullumber. The merchandise returned cost $3,710. (c) Cullumber received the balance due within the discount period. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Transactions Account Titles and Explanation (a) (To record credit sale.) (To record cost of goods sold.) Debit Credit SU