2 Purchase-related transactions

InstructionsChart of AccountsJournal

Instructions

Journalize entries for the following related transactions of Lilly Heating & Air Company. Refer to the Chart of Accounts for exact wording of account titles.

A.Purchased $36,000 of merchandise from Schell Co. on account, terms 1/10, n/30.B.Paid the amount owed on theinvoicewithin the discount period.C.Discovered that $9,000 of the merchandise purchased in (A) was defective and returned items, receiving credit.D.Purchased $5,000 of merchandise from Schell Co. on account, terms n/30.E.Received a refund from Schell Co. for return in (C) less the purchase in (D).