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Axel Company and Rod Company completed the following merchandising transactions in the month of April. Axel Company follows periodic inventory system and Rod Company follows

Axel Company and Rod Company completed the following merchandising transactions in the month of April. Axel
Company follows periodic inventory system and Rod Company follows perpetual inventory system. Journalize for the
month of April, Axel Company's transactions and Rod Company's transactions.
April 9 Axel Company sold $67,500 of merchandise on account to Rod Company, terms FOB destination, 1/10,
n30. The cost of the merchandise sold was $40,500. The appropriate party also paid $100 for the freight
charge.
April 12 Axel Company granted Rod Company $2,100 credit for merchandise returned costing $1,300.
April 18 Axel Company received the balance due from Rod Company.
Instructions:
a. Journalize the above transactions on the books of Axel Company.
b. Journalize the above transactions on the books of Rod Company.
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