AP-13B

wilde wilderness

wentory. wendising Transactions AP-13B LO 34 Wilde Wilderness Chapter 7 Wilderness Supplies had the following transactions during January 2018 Jan 1 Jan 1 Wilde Sold merchandise on credit to Merril for $15,000, terms 2/1 Wilde paid $50 to ship the goods to Merril Purchased inventory for $12,000 on credit from Outdoor 15,000, terms 2/10, n/30; cost of goods was $8,500 Jan 5 Jan 5 Jan 8 Jan 12 Se purchased on January 1; the cost of goods sold 2.000 on credit from Outdoor Experts, terms 1/10, n/30 to have the merchandise from Outdoor Experts delivere Merril returned $1,200 (sales price) of merchandise purchased on Jar was $800. The inventory will be resold. Some of the merchandise purchased on January 5 was merchandise in exchange for a 25% allowance on the pure shipping charges. Received payment from Merril for the January 1 sale Sold merchandise on credit to Fe chandise on credit to Forest Outfitters for $5,000, terms 2/15, n/30; cost of goods was Paid for merchandise purchased from Outdoor Experts on January 5 Wilde granted Forest Outfitters a 20% allowance on th granted Forest Outfitters a 20% allowance on the January 18 sale due to defective products Received payment from Forest Outfitters for the January 18 sale ary 5 was the wrong size. Wilde decided to keep the allowance on the purchase. Allowances are not granted on Jan 15 Jan 18 Jan 23 Jan 26 Jan 31 Journalize the above transactions assuming that Wilde Wilderness Supplies uses a perpetual inventory system. Round all calculations to the nearest whole dollar. Date Account Title and Explanation Debit Credit Analysis Calculate Wilde Wilderness Supplies' gross profit margin for the month