Answer:

	Sales related journal entries
Transaction	Account	Debit	Credit
10-Jan	Inventory	$10,000
	Accounts payable		$10,000
	Purchased merchandise with terms 4/15, n/30
10-Jan	Inventory	$100
	Cash		$100
	Paid delivery costs
25-Jan
	Inventory
	Cash
	Paid for merchandise within discount period
2-Feb		$1,000
	Sold merchandise
2-Feb
	Cost of Sales
5-Feb
	Credit allowance
12-Feb	Cash
			$950
	Received payment from Rowdy's within discount period
28-Feb
	Adjustment for inventory shrinkage

Select Retailer/Merchandiser-Related Transactions: 1) Road Runner Racers (RRR) purchased $10,000 of merchandise from Warehouser Plus on January 10. RRR was given terms of 4/15, n/30. FOB shipping point. RRR paid $100 for delivery. 2) RRR paid their invoice to Warehouser Plus on January 25th. 3) On February 2, RRR sold $1,000 of merchandise to Rowdy's Inc. RRR offered Rowdy credit terms of 2/10, n/45. RRR's cost of the merchandise was $500. 4) On February 5, Rowdy contacted RRR because some of the goods were damaged. RRR offered Rowdy a $50 credit allowance. Rowdy agreed to the allowance. 5) Rowdy paid their invoice on February 12. 6) RRR counted inventory on February 28. Their books showed $69,200 in inventory, but the physical inventory count only showed $68,650