Chart of Accounts ASSETS 110 Cash 121 Accounts Recelvable-Empire Co. 122 Accounts Recelvable-Equinox Co. 123 Accounts Receivable-Targhee Co. 124 Accounts Receivable-Vista Co 125 Notes Receivable 130 Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 526 Salaries Expense 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 2 Sold merchandise on account to Equinox CO0,518,900, terms FOB destination, n/30. The cost of the goods sold was $13,300. 3 Sold merchandise for $11,350 plus 6% sales tax to retail cash customers. The cost of the goods soid was $7,000 4 Sold merchandise on account to Empire Co, $55,400, terms FOB shipeng.point, n/eom The cost of the goods sold was $33,200 5 Sold merchandise for $30,000 to retail customers who used MasterCard. The cost of the goods sold was $19,400. The printed recoipts for retail customers included a coupon for $2 of the customer's next purchase, it is estimated that 2,000 of the coupons will be redeemed create a compound journal entry for the sale and coupon payable estimate 14 Sold $18,000 of merchandise to retail customers who used MasterCard and who redeemed 850 of the $2 coupons issued on March 5 . The cost of the goods sold was $10,500 16 Sold merchandise on account to Targhee Co. $27,500, terms Foe shipping point. nizo. The cost of the goods sold was $16,000 18 Issued croditmemg to Targhee Co for merchandise whth an invoice amount of $4.800 returned from sale on March 16 The cost of the merchandise retumed was $2,900 Instructions Mar 19 Sold merchandise on account to Vista Co, $8,250, terms FOB shipping point, n/eom. Added $75 to the invoice for prepaid freight. The cost of the goods sold was $5,000. Record the freight as a separate transaction. 31 Recelved check for amount due from Vista Co. for sale of March 19. 31 Received check for amount due from Empire Co. for sale of March 4. 31 Paid Fleetwood Delivery Service \$5,600 for merchandise delivered during March to customers under shipping terms of FOB destination. 31 Paid local newspaper $1,200 for advertsing that included point-or-sale coupons for $15 off April purchases of $75 or more. It is estimated that 500 of the coupons will be redeemed. (Do not create any liability for the estimated coupon redemption at this time) Apr 1 Received check for amount due from Equinox Co. for sale on March 2. 3 Paid City Bank $940 for service fees for handling MasterCard and American Express sales during March 15 Paid $6,544 to state sales tax division for taxes owed on sales. 15. Received check for amount due from Targhee Co for sale on March 16 less credit memo of March 18 16 Sold merchandise with a list price of $40,000 to customers using MasterCard. Customers redeemed 300 of the point-of-sale, \$15-off coupons distributed on March 31. The cost of the merchandise sold 31 Paid Fleetwood Delivery Service $5,600 for merchandise delivered during March to customers under shipping terms of FOB destination. 31 Paid local newspaper $1,200 for advertising that included point-of-sale coupons for $15 off April purchases of $75 or more. It is estimated that 500 of the coupons will be redeemed. (Do not create any liability for the estimated coupon redemption at this time.) Apr 1 Received check for amount due from Equinox Co. for sale on March 2. 3 Paid City Bank $940 for service fees for handling MasterCard and American Express sales during March. 15 Paid $6,544 to state sales tax division for taxes owed on sales. 15 Received check for amount due from Targhee Co, for sale on March 16 less credit memo of March 18. 16 Sold merchandise with a list price of $40,000 to customers using MasterCard. Customers redeemed 300 of the point-of-sale, \$15-off coupons distributed on March 31. The cost of the merchandise sold was $18,750 Required: Joumalize the entries to record the transactions of Amsterdam Supply Co. Instructions Chart of Accounts 194 Office Equipment 195 Accumulated Depreciation-Office Equipment 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payable 216 Salaries Payable 218 Sales Tax Payable 219 Estimated Coupons Payable 220 Customer Refunds Payable 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends The following selected transactions were completed by Betz Company during July of the current year: July 1 Purchased merchandise from Sabol imports Co., $20,500, terms FOB destination, n/30. 3 Purchased merchandise from Saxon Co. $12,000, terms FOB shipping point, 2/10, neom. Prepaid freight of $75 was added to the invoice. 5 Purchased merchandise from Schnee Co, $8,000, terms FOB destination, 2/10,n/30 6 Issued debit memo to Schnee Co. for merchandise with an invoice amount of $1,500 retumed from purchase on July 5 . 13. Paid Saxon Co. for invoice of July 3. 14 Paid Schnee Co for invoice of July 5 , less debit memo of July 6 19 Purchased merchandise from Southmont Co, $18,900, terms FOB shipping point, n/eom. 19 Paid freight of $140 on July 19 purchase from Southmont Co 20 Purchased merchandise from Stevens Co., $33,000, terms FOB destination, 1/10,n/30. 30 Paid Stevens Co. for imvoice of July 20 31 Paid Sabol imports Co for invoice of July 1 31 Paid Southmont Co for invoice of July 19