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AQU Software Wholesaler, completed the following merchandising transactions during May May 5. Purchased merchandise on account from UCF Co. $3,200, FOB destination point, terms 2/10,
AQU Software Wholesaler, completed the following merchandising transactions during May May 5. Purchased merchandise on account from UCF Co. $3,200, FOB destination point, terms 2/10, n/60. Freight cost $50 was .1 paid by the appropriate party .May 7. Received credit from UCF Co. for merchandise returned $100.2 May 10. Sold merchandise on account for $1,900, to AFN Co. FOB shipping point terms 1/10, 1/30. The merchandise sold had a 3 cost of $1,440. Freight cost $30 was paid by the appropriate party May 20. Pald UCF Co. in full.4 May 23. Received payment in full from AFN Co.5 Required: Journalize the above transactions
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