Selected transactions during April between Swan Company and Bird Company are listed in Problem 5-4B.
In Problem 5-4B. The following selected transactions were completed during April between Swan Company and Bird Company:
Apr. 2. Swan Company sold merchandise on account to Bird Company, $32,000, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $19,200.
8. Swan Company sold merchandise on account to Bird Company, $49,500, terms FOB destination, 1/15, n/eom. The cost of the merchandise sold was $29,700.
8. Swan Company paid freight of $710 for delivery of merchandise sold to Bird Company on April 8.
12. Bird Company returned $7,500 of merchandise purchased on account on April 8 from Swan Company. The cost of the merchandise returned was $4,800.
12. Bird Company paid Swan Company for purchase of April 2, less discount.
23. Bird Company paid Swan Company for purchase of April 8, less discount and less return of April 12.
24. Swan Company sold merchandise on account to Bird Company, $67,350, terms FOB shipping point, n/eom. The cost of the merchandise sold was $40,400.
26. Bird Company paid freight of $875 on April 24 purchase from Swan Company.
30. Bird Company paid Swan Company on account for purchase of April 24.

Instructions
Journalize the entries to record the transactions for
(1) Swan Company
(2) Bird Company assuming that both companies use the periodic inventory system.