$18$ Issued credit memo to Targhee Co$.$ for merchandise with an invoice amount of $$4,800$ returned from

sale on March $16.$ The cost of the merchandise returned was $$2,800.$

Record on page $11$ of the journal

Mar. $19$ Sold merchandise on account to Vista Co$.,$ $$8,200,$ terms FOB shipping point, n$/$eom$.$ Added $$75$ to the

invoice for prepaid freight. The cost of the goods sold was $$5,100.$ Record the freight as a separate

transaction.

$31$ Received check for amount due from Vista Co$.$ for sale of March $19.$

$31$ Received check for amount due from Empire Co$.$ for sale of March $4.$

$31$ Paid Fleetwood Delivery Service $$6,000$ for merchandise delivered during March to customers under

shipping terms of FOB destination.

$31$ Paid local newspaper $$1,200$ for advertising that included point$-$of$-$sale coupons for $$15$ off April

purchases of $$75$ or more. It is estimated that $500$ of the coupons will be redeemed. $($Do not create any

liability for the estimated coupon redemption at this time.$)$

Apr. $1$ Received check for amount due from Equinox Co$.$ for sale on March $2.$

$3$ Paid City Bank $$940$ for service fees for handling MasterCard and American Express sales during

March. $3$ Paid City Bank $$940$ for service fees for handling MasterCard and American Express sales during

March.

$15$ Paid $$6,800$ to state sales tax division for taxes owed on sales.

$15$ Received check for amount due from Targhee Co$.$ for sale on March $16$ less credit memo of March $18.$

$16$ Sold merchandise with a list price of $$39,500$ to customers using MasterCard. Customers redeemed

$300$ of the point$-$of$-$sale, $$15-$off coupons distributed on March $31.$ The cost of the merchandise sold

was $$18,750.$

Required:

Journalize the entries to record the transactions of Amsterdam Supply Co$.$ CHART OF ACCOUNTS

Amsterdam Supply Co$.$

General Ledger

ASSETS

$110$ Cash

$121$ Accounts Receivable$-$Empire Co$.$

$122$ Accounts Receivable$-$Equinox Co$.$

$123$ Accounts Receivable$-$Targhee Co$.$

$124$ Accounts Receivable$-$Vista Co$.$

$125$ Notes Receivable

$130$ Inventory

$131$ Estimated Returns Inventory

$140$ Office Supplies

$141$ Store Supplies

REVENUE

$410$ Sales

$610$ Interest Revenue

EXPENSES

$510$ Cost of Goods Sold

$521$ Delivery Expense

$522$ Advertising Expense

$524$ Depreciation Expense$-$Store Equipment

$525$ Depreciation Expense$-$Office Equipment

$526$ Salaries ExpenseChart of Accounts

$141$ 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

$216$ Salaries Payable

$218$ Sales Tax Payable

$219$ Estimated Coupons Payable

$220$ Customer Refunds Payable

$221$ Notes Payable

$526$ Salaries Expense

$531$ Rent Expense

$533$ Insurance Expense

$534$ Store Supplies Expense

$535$ Office Supplies Expense

$536$ Credit Card Expense

$539$ Miscellaneous Expense

$710$ Interest Expense General Journal

Journalize the entries to record the transactions of Amsterdam Supply Co$.$

General Journal InstructionsGeneral Journal

PAGE $11$

$\backslash$table$[[,$JOURNAL,ACCOUNTINThe following selected transactions were completed by Amsterdam Supply Co$.,$ which sells office supplies primarily to other businesses and occasionally to retail customers:

Record on page $10$ of the journal

Mar. $2$ Sold merchandise on account to Equinox Co$.,$ $$18,300,$ terms FOB destination, $\frac{n}{30}.$ The cost of the

goods sold was $$13,100.$

$3$ Sold merchandise for $$11,350$ plus $6\%$ sales tax to retail cash customers. The cost of the goods sold

was $$6,000.$

$4$ Sold merchandise on account to Empire Co$.,$ $$55,300,$ terms FOB shipping$\_$point, n$/$eom$.$ The cost of

the goods sold was $$33,100.$

$5$ Sold merchandise for $$29,000$ to retail customers who used MasterCard. The cost of the goods sold

was $$19,400.$ The printed receipts for retail customers included a coupon for $$2$ off the customer's next

purchase. It is estimated that $2,000$ of the coupons will be redeemed. Create a compound journal entry

for the sale and coupon payable estimate.

$14$ Sold $$17,000$ of merchandise to retail customers who used MasterCard and who redeemed $900$ of the

$$2$ coupons issued on March $5.$ The cost of the goods sold was $$10,200.$

$16$ Sold merchandise on account to Targhee Co$.,$ $$28,000,$ terms FOB shipping point, $\frac{n}{30}.$ The cost of the

goods sold was $$14,000.$