Consider the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, record the purchase July $1$ in Accounts Payable$-$Jones Company. Do the analysis component.

July $1$ Purchased merchandise from Jones Company for $$15,800$ under credit terms of $\frac{3}{15},\frac{n}{30},$ FOB factory.

$2$ Sold merchandise to Terra Co$.$ for $$3,100$ under credit terms of $\frac{1}{10},\frac{n}{60},$ FOB shipping point. The merchandise had cost $$2,450.$

$3$ Paid $$550$ for freight charges on the purchase of July $1.$

$8$ Sold merchandise that cost $$4,325$ for $$5,600$ cash.

$9$ Purchased merchandise from Keene Co$.$ for $$8,600$ under credit terms of $\frac{1}{15},\frac{n}{60},$ FOB destination.

$12$ Received a $$2,000$ credit memo acknowledging the return of merchandise purchased on July $9.$

$12$ Received the balance due from Terra Co$.$ for the credit sale dated July $2.$

$13$ Purchased office supplies from Eastco on credit, $$860,\frac{n}{30}.$

$16$ Paid the balance due to Jones Company.

$19$ Sold merchandise that cost $$3,350$ to Urban Co$.$ for $$4,300$ under credit terms of $\frac{1}{15},$ n$/60,$ FOB shipping point.

$21$ Issued a $$400$ credit memo to Urban Co$.$ for an allowance on goods sold on July $19.$

$22$ Received a debit memo from Urban Co$.$ for an error that overstated the total invoice by $$300.$

$29$ Paid Keene co$.$ the balance due.

$30$ Received the balance due from Urban Co$.$ for the credit sale dated July $19.$

$31$ Sold merchandise that cost $$8,500$ to Terra Co$.$ for $$11,000$ under credit terms of $\frac{1}{10},\frac{n}{60},$ FOB shipping point.

Prepare General Journal entries to record the above transactions.

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

$7$

$8,$dots

$19$

Record the purchased goods; terms $\frac{3}{15},\frac{n}{30},$ FOB factory.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,,$General Journal,Credit$],[$July $01,,,],[,,,],[,,,],[,,,],[,,,]]$

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