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3. Purchased merchandise on account from Hamling Co., list price $72,000, trade discount 15%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,450

3.

Purchased merchandise on account from Hamling Co., list price $72,000, trade discount 15%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $1,450 added to the invoice.

5.

Purchased merchandise on account from Kester Co., $33,450, terms FOB destination, 2/10, n/30.

6.

Sold merchandise on account to Parsley Co., $36,000, terms n/15. The cost of the goods sold was $25,000.

7.

Returned $6,850 of merchandise purchased on July 5 from Kester Co.

13.

Paid Hamling Co. on account for purchase of July 3.

15.

Paid Kester Co. on account for purchase of July 5, less return of July 7.

21.

Received cash on account from sale of July 6 to Parsley Co.

21.

Sold merchandise on MasterCard, $108,000. The cost of the goods sold was $64,800.

28.

Paid Parsley Co. a cash refund of $7,150 for returned merchandise from sale of July 6. The cost of the returned merchandise was $4,250.

31.

Paid MasterCard service fee of $1,650.

REQUIRED:Prepare the journal entries for the above transactions

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