Required: Record the following transactions of Evelyn's Designs in a general journal. The company uses the perpetual inventory system. DATE 20X1 April 1 9 15 17 24 TRANSACTIONS Purchased merchandise on credit from American Fabricators, Invoice 885, $2,000, terms 1/10, n/30; freight of $100 was paid by American Fabricators and added to the invoice (total invoice amount, $2,100). Paid amount due to American Fabricators for the purchase of April 1, less the 1 percent discount, Check 457. Purchased merchandise on credit from Kalyagin Company, Invoice 145, $600, terms 1/10, n/30; freight of $50 prepaid by Kalyagin and added to the invoice. Returned damaged merchandise purchased on April 15 from Kalyagin Company; received Credit Memorandum 332 for $200. Paid the amount due to Kalyagin Company for the purchase of April 15, less the return on April 17, taking the 1 percent discount, Check 470.

Required: Record the following transactions of Evelyn's Designs in a general journal: DATE TRANSACTIONS 20x1 April 1 Purchased merchandise on credit from American Fabricators, Invoice 885, $2,000, terms 1/10, n/30; freight of $100 prepaid by American Fabricators and added to the invoice (total invoice amount, $2,100). Paid amount due to American Fabricators for the purchase of April 1, less the 1 percent discount, Check 457. Purchased merchandise on credit from Kalyagin Company, Invoice 145, $1,600, terms 1/10, n/30; freight of $50 prepaid by Kalyagin and added to the invoice. Returned damaged merchandise purchased on April 15 from Kalyagin Company; received Credit Memorandum 332 for $200. Paid the amount due to Kalyagin Company for the purchase of April 15, less the return on April 17, taking the 1 percent discount, Check 470. 15 17 24

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

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Prepare separate entries for each transaction for Concord Company. The merchandise purchased by Culver on June 10 cost Concord $5,100, and the goods returned cost Concord $267.

Satoor, Inc.Satoor, Inc., which uses a periodic inventory system, purchased merchandise from Taye Company on July 7 for $15,000. The credit terms were 1/10, n/30. The goods were shipped FOB shipping point on July 7. Satoor, Inc. received the merchandise on July 10 and paid the amount due on July 15.Refer to the information provided for Satoor, Inc. Who is responsible for payment of the transportation costs on the merchandise sold? a. seller b. split equally between the two companies c. buyer d. Cannot be determined from the information provided.

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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.

3 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 $260 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…