ACCOUNTING PROCESS ASSIGNMENT: PART #1 Page 3 of 9 December 20 Ninatori Fashion Supply Corp. received goods purchased on credit from Frank Mfg Co. with an invoice for their cost of $15,800 due under terms of 2/10, n30. The companies used Allied Parcel Service for the "same-day" pick-up and delivery of the goods with FOB Shipping Point terms. #1 DATE ACCOUNT NAMES DEBIT CREDIT December 20 Ninatori Fashion Supply Corp. renewed its general liability insurance policy expiring on December 31. The company paid $42,000 cash to its insurance company in full payment of the premiums for one-year of coverage from January 1, 2017 through December 31, 2017. #2 DATE ACCOUNT NAMES DEBIT CREDIT December 21 Ninatori Fashion Supply Corp. received an invoice from Allied Parcel Service in the amount of $500, payable in 15 days, for the freight charges relative to the "same- day" pick-up and delivery of goods purchased from Frank Mfg. Co. #3 DATE ACCOUNT NAMES DEBIT CREDIT December 21Ninatori Fashion Supply Corp. returned damaged goods to Frank Mfg. Co. and received a credit of $800 for their invoice price #4 DATE ACCOUNT NAMES DEBIT CREDIT