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Bushard Company (buyer) and Schmidt, Inc (seller) engaged in the following transactions during February 2019: Bushord Company DATE TRANSACTIONS 2019 Feb. 10 Purchased merchandise for
Bushard Company (buyer) and Schmidt, Inc (seller) engaged in the following transactions during February 2019: Bushord Company DATE TRANSACTIONS 2019 Feb. 10 Purchased merchandise for $5,989 from Schmidt, Inc., Invoice 1989, terms 2/10, n/30. 13 Received Credit Memorandum 230 from Schmidt, Inc., for damaged merchandise totaling $290 that was returned; the goods were purchased on Invoice 1980, dated February 10. 19 Paid amount due to Schmidt, Inc., for Invoice 1989 of February 19, less return of February 13 and less the cash discount, Check 2010. 1980, Schmidt, Inc. DATE TRANSACTIONS 2019 Feb. 10 Sold merchandise for $5,900 on account to Bushard Company, Invoice terms 2/10, n/30. The cost of merchandise sold was $3,450. 13 Issued Credit Memorandum 230 to Bushard Company for damaged merchandi totaling $290 that was returned; the goods were purchased on Invoic 1980, dated February 10. The cost of the returned goods was $210. 19 Received payment from Bushard Company for Invoice 1980 of February 10, the return of February 13 and less the cash discount, Check 2010. DID Both companies use the perpetual inventory system. Journalize the transactions and Schmidt, Inc. (Round final answers to the nearest whole dollar value.) neral journal for both Bushard Comp 5 Complete this question by entering your answers in the tabs below. Ruchard View transaction list Journal entry worksheet 3 Purchased merchandise for $5,900 from Schmidt, Inc., Invoice 1980, terms 2/10, n/30. Note: Enter debits before credits. General Journal Debit Credit Date Feb 10, 2019 Journal entry worksheet Received Credit Memorandum 230 from Schmidt, Inc., for damaged merchandise totaling $290 that was returned; the goods were purchased on Invoice 1980, dated February 10. Note: Enter debits before credits. General Journal Debit Credit Date Feb 13, 2019 Journal entry worksheet
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