Complete the Journal Entries

Paid rent for July $4,000

Purchased Merchandise on account from Lingard Co., terms 2/10, n/30, FOB shipping point, $25,000

Paid freight on purchase of July 3, $1,000

Sold merchandise on account to Holt Co., terms 2/10, n/30, FOB shipping point, $40,000. The cost of the merchandise sold was $24,000

Received $18,000 cash from Flatt Co. on account, no discount

Sold merchandise for cash $90,000. The cost of the merchandise sold was $50,000

Paid for merchandise purchased on July 3, less discount

Received merchandise returned on sale of July 6, $7,000. The cost of the merchandise returned was $4,500.

Paid advertising expense for last half of July, $9,000

Received cash from sale of July 6, less return of July 14 and discount

Purchased merchandise for cash, $22,000

Paid $23,100 to Carino Co. on account, no discount