8 *Problem 5-10A Journal entries for merchandising transactions-periodic LO7 Help Me SOLVE IT Prepare general journal entries to record the following periodic system merchandising transactions for Safety Merchandising. Use a separate account for each receivable and payable: Oct. 1 Purchased merchandise from Zeon Company on credit, terms 2/10, 1/30, $15,800 2 Sold merchandise for cash, $2,100. 7 Purchased merchandise on credit from Billings Co, terms 2/10, 1/30, $11,600, FOB the seller's factory 7 Paid $450 cash for freight charges on the merchandise shipment of the previous transaction Purchased delivery equipment from Finlay Supplies on credit, $24,000. 12 Sold merchandise on credit to Comry Holdings, terms 2/15, 1/30.n/60, $5,800 13 Received a $1,500 credit memo for merchandise purchased on October 7 and returned for credit. 13 Purchased office supplies on credit from Staples, $620, n/30. 15 Sold merchandise on credit to Tom Willis, terms 2/10, 1/30, n/60, $4,650, 15 Paid for the merchandise purchased on October 7. 16 Received a credit memo for unsatisfactory office supplies purchased on October 13 and returned $120. 19 Issued a $420 credit memo to the customer who purchased merchandise on October 15 and returned a portion for credit 25 Received payment for the merchandise sold on October 15. 29 The customer of October 12 paid for the purchase of that date. 31 Paid for the merchandise purchased on October 1. 10 1 7 7 Help Me *Problem 5-10A Journal entries for merchandising transactions-periodic L07 SOLVE IT Prepare general journal entries to record the following periodic system merchandising transactions for Safety Merchandising. Use a separate account for each receivable and payable: Oct Purchased merchandise from Zeon Company on credit, terms 2/10, 1/30, $15,800 2 Sold merchandise for cash, $2,100 1 Purchased merchandise on credit from Bilings Co. terms 2/10, 1/30, $11,600,FOB the seller's factory, Poid $450 cash for freight charges on the merchandise shipment of the previous transaction 8 Purchased delivery equipment from Finlay Supplies on credit, $24,000 12 Sold merchandise on credit to Comry Holdings, terms 2/15, 1/30, 1/60, $5,800 13 Received a $1,500 credit memo for merchandise purchased on October 7 and returned for credit 13 Purchased office supplies on credit from Staples, $620, 1/30 Sold merchandise on credit to Tom Willis, terms 2/10, 1/30, 1/60, S4,650. Pald for the merchandise purchased on October 7. Received a credit memo for unsatisfactory office supplies purchased on October 13 and returned, $120. 19 Issued a $420 credit memo to the customer who purchased merchandise on October 15 and returned a portion for credit 25 Received payment for the merchandise sold on October 15. 29 The customer of October 12 paid for the purchase of that date. 31 Paid for the merchandise purchased on October 1. 15 15 16