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1) Journalize both sides of the following transactions that occurred during April 2022 between the seller, Paper Clips, and the buyer, Big Red Paper
1) Journalize both sides of the following transactions that occurred during April 2022 between the seller, Paper Clips, and the buyer, Big Red Paper Company, using the provided template: 04/21 Paper Clips takes an order for $25,000 worth of merchandise from Big Red Paper Company. Terms are 5/10, n/30 FOB Destination. The cost of the merchandise was $15,000. 04/22 Truckers, Inc. was paid $500 to ship the order. 04/25 $4,500 worth of merchandise is returned due to a mistake with the order. The cost of the returned merchandise was $3,000. 04/30 Paper Clips received a timely payment from Big Red Paper Company.
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