B 5 12 21 15 18 Merchandising (10 marks) Isobel Vidovic Corporation (IVC) is a merchandising business that deals in buying and selling high-end jackets. IVC uses a perpetual inventory system to record its transactions. Listed below are the company's inventory transactions during the month of April. IVC estimates a return rate of 4% based on past experience. REQUIRED: Journalize the transactions for each item listed below. If no entry is required, please type no entry for the account name and O for the dollar amount which would look like the following: Dr. no entry $0 Cr. no entry $0 Question 21 (1 point) Listen April 3-Purchased merchandise from Abano Industries for $12,700 on account with 100 FOR Shinning point. 2: 8 9 11 12 18 15 April 4 - Freight charges of $275 were paid by the appropriate party on the April 3 transaction. Dr. Cr. Question 23 (3 points) Listen $ April 7 - Sold merchandise to Dalton Co. for $16,200 on account with credit terms of 2/10, n/30, FOB Shipping point. The merchandise originally cost $9,100. (Hint: Two sets of entries have been provided. Please pay attention to the debits and credits.) Dr. Cr. Cr. A $ A/ A $ Dr. A $ 2 quires Respondus LockDown Browser Webcam Listen April 7-Sold merchandise to Dalton Co. for $16,200 on account with credit terms of 2/10, n/30, FOB Shipping point. The merchandise originally cost $9.100. (Hint: Two sets of entries have been provided. Please pay attention to the debits and credits) 2 $ 2 5 6 Dr. Cr. Cr. 12 2 Dr. Dr Cr. Question 24 (0.5 points) Listen $ +A 2 April 8- The appropriate party paid the freight charges of $325 on the April 7 2: 11 8 12 121 uestion 24 (0.5 points) Listen April 8- The appropriate party paid the freight charges of $325 on the April 7 transaction. Dr. Cr. Question 25 (2 points) Listen 4 15 18 April 10 Dalton Co. returned merchandise from the April 7 sale and received a credit for $3,600. The merchandise sent to Dalton was not what was ordered. The cost of the goods returned to IVC was $2,020 and it was returned to inventory. (Hint: The first entry pertains to the customer's account)