CH$5$

Journalize the following transactions that occurred in March for Dream Line Company. Assume Dream Line uses the periodic inventory system. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Dream Line estimates sales returns at the end of each month. $($Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount. Round all amounts to the nearest whole dollar.$)$

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Mar. $3$: Purchased merchandise inventory on account from Stout Wholesalers, $$5,000.$ Terms $\frac{3}{15},$ n$/$EOM$,$ FOB shipping point.

$\backslash$table$[[$Date$,$Accounts,Debit,Credit$],[$Mar$.3],[],[,,,],[,,,]]$

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$\backslash$table$[[$Mar$.3,\backslash$table$[[$Purchased merchandise inventory on account from Stout Wholesalers, $$5,000.],[$Terms $\frac{3}{15},\frac{n}{E}OM,$ FOB shipping point.$]]],[$Mar$.4,$Paid freight bill of $$60$ on March $3$ purchase.$],[$Mar$.4,$Purchase merchandise inventory for cash of $$1,300.],[$Mar$.6,$Returned $$1,200$ of inventory from March $3$ purchase.$],[$Mar$.8,\backslash$table$[[$Sold merchandise inventory to Houston Company, $$4,200,$ on account. Terms $1/15,],[$n$/35.]]],[$Mar$.9,\backslash$table$[[$Purchased merchandise inventory on account from Taylor Wholesalers, $$4,500.],[$Terms $\frac{1}{10},\frac{n}{30},$ FOB destination.$]]],[\backslash$table$[[$Mar$.12],[$Mar$.13]],\backslash$table$[[$Received payment from Houston Company, less ilscuilur Wholesalers.$],[$After negotiations, received a $$300$ allowance from Taylor$]]],[\backslash$table$[[$Mar$.13],[$Mar$.15]],\backslash$table$[[$After negotiations, received a $$300$ allowance$],[$Sold merchandise inventory to Jeeves Company, $$2,100,$ on account. Terms$]]],[\backslash$table$[[$Mar$.15],[$Mar$.22]],\backslash$table$[[,],[\backslash$table$[[$Mar$.22],[$Mar$.23]],\backslash$table$[[$Made payment, less allowance, to Taylor$],[$March $9.],[$Jeeves Company returned $$800$ of the merchandise sold on March $15.]]],[\backslash$table$[[$Mar$.23],[$Mar$.25]],\backslash$table$[[$Jeeves Company returned $$800$ of the merchandise acount. Terms of $2110,\frac{n}{30}$