B View 125% Zoom Chapter 5 Lab-Students ET Insert Table Chart Text Shape Me + Add Category Transactions Requirement JE I CHAPTER 5 LAB Prepare journal entries to record the merchandising transactions ("transactions tab") of Hetfield, Inc., wheh uses the perpetual inventory system and gross method. Use the "JE tab" to journalize your transactions. Hint: It will be helpful to identify each receivable and payable; for example, record the purchase on May 2 in Accounts Payable - Bon Jovi. April 2 Purchased merchandise from Bon Jovi for 15,000 under credit terms of 2/15, n/30, FOB shipping point, invoice dated April 2 April 4 Sold merchandise to Van Halen for 8,000 under Credit terms of 1/10,n/ 60, FOB shipping point, invoice dated April 4. The merchandise had a cost of 5,500. April 5 Paid 500 cash for freight charges on the purchase of April 2. April 9 Sold mechandise that had a cost of 2,500 for 4,000 cash. April 10 Purchased merchandise from Roth for 3,000 under credit terms of 1/15, 1/60, FOB destination, invoice dated April 10. April 12 Returned 800 of merchandise purchased on April 10 from Roth and debited its account payable for that amount April 14 Received the balance due from Van Halen for the invoice date April 4 net of the discount. April 17 Paid the balance due to Bon Jovi Within the discount period April 20 Sold merchandise that cost 6,000 to Dee Snyder for 9,000 under credit terms of 1/15, 1/60, FOB shipping point, invoice dated April 20. April 22 Gave a price reduction (allowance) of 500 to Doe Snyder for merchandise sold on April 20 and credited Dee Snyder's accounts receivable for the amount April 1 O 25 Paid Roth the balance due, net of the amount IL Rru + Insert Table Requirement Chart Test Shape Media Transactions Comment JE April 5 Paid 500 cash for freight charges on the purchase of April 2. April 9 Sold mechandise that had a cost of 2,500 for 4,000 cash. April 10 Purchased merchandise from Roth for 3,000 under credit terms of 1/15, n/60, FOB destination, invoice dated April 10. April 12 Returned 800 of merchandise purchased on April 10 from Roth and debited its account payable for that amount. April 14 Received the balance due from Van Halen for the invoice date April 4, net of the discount. April 17 Paid the balance due to Bon Jovi within the discount period. April 20 Sold merchandise that cost 6,000 to Dee Snyder for 9,000 under credit terms of 1/15, 1/60, FOB shipping point, invoice dated April 20. April 22 Gave a price reduction (allowance) of 500 to Dee Snyder for merchandise sold on April 20 and credited Dee Snyder's accounts receivable for the amount April 25 Paid Roth the balance due, net of the amount April 29 Received the balance due from Dee Snyder for the invoice date April 20. net of discount and allowance April 30 Sold merchandise that cost 12.000 to Freddie Mercury for 18.000 under credit terms of 1/15, 1/80, FOB shipping point invoice dated April 30. Also GHI 2x