The following transactions occurred.  Bigby (buyer) buys supplies from Super Coffee (seller). - Apr. 1  Buyer buys merchandise for $3,000, credit terms 2/10, n/30.  Merchandise cost $1,800. - Apr. 4.  Buyer returns $300 of merchandise for full credit.  The merchandise is returned to inventory. - Apr. 9 Buyer pays the amount due from the April 1 sales less the return on April 4. 1.  Prepare journal entries to record the transactions for buyer.  Be sure to date each entry.  (Prefer you use gross method for amount to record.) 2. Prepare journal entries to record the transactions for the seller.  Be sure to date each entry.  (Prefer you use gross method for amount to record.)

Finer Company uses a sales journal, purchases journal, cash receipts journal, cash payments journal, and general journal. Journalize the following transactions that should be recorded in the sales journal. May 2 Sold merchandise costing $300 to B. Facer for $450 cash, invoice no. 5703. 5 Purchased $2,400 of merchandise on credit from Marchant Corp. 7 Sold merchandise costing $800 to J. Dryer for $1,250, terms 2/10, n/30, invoice no. 5704. 8 Borrowed $9,000 cash by signing a note payable to the bank. 12 Sold merchandise costing $200 to R. Lamb for $340, terms n/30, invoice no. 5705. 16 Received $1,225 cash from J. Dryer to pay for the purchase of May 7. 19 Sold used store equipment (noninventory) for $900 cash to Golf, Inc. 25 Sold merchandise costing $500 to T. Taylor for $750, terms n/30, invoice no. 5706. SALES JOURNAL Date Account Debited Invoice Number Accounts Receivable Dr. Cost of Goods Sold Dr. Sales Cr. Inventory Cr.

Need Answer

Journalizing Sales, Sales Returns and Allowances, and Cash Receipts   Prepare journal entries for the following transactions. Aug. 4   Sold merchandise on account to S. Miller for $320 plus sales tax of 4%, with 2/10, n/30 cash discount terms. 6   Sold merchandise on account to K. Krtek for $210 plus sales tax of 4%. 10   S. Miller returned merchandise purchased on August 4 for $20 plus sales tax for credit. 13   S. Miller paid the balance due on her account. 15   K. Krtek returned merchandise purchased on August 6 for $40 plus sales tax for credit. 20   K. Krtek paid the balance due on his account.     Page: 1   DATE ACCOUNT TITLE DOC. NO. POST. REF. DEBIT CREDIT   1 20--Aug. 4       fill in the blank 2 fill in the blank 3 1 2         fill in the blank 5 fill in the blank 6 2 3         fill in the blank 8 fill in the blank 9 3 4             4 5 Aug. 6       fill in the blank 11 fill in the blank 12 5 6         fill in the blank 14 fill in the blank 15…