E 1 c. 13 14 1) Sept1 sold inventory to JenAir for $6000 ( cost is $4200) term 2/10, n/30 15 1-Sep Term: 2/10, n/30 16 Dr. COGS 4200 17 Cr. Inventory 4200 18 19 Dr. A/R-JenAir 6000 20 Cr. Sales 6000 21 22 23 2) Sep2, business purchased $3,000 merchandise inventory from Skylimit Inc. 24 Term 1/10, n/30 FOB 25 Dr. Inventory 3000 26 Cr. A/P Skylimit 3000 27 283) Sep3 business paid the delivery cost $430 for shipping the Sepl inventory to 29 JenAir 30 Dr. Shipping Exp 430 31 Cr. Cash 430 32 33 4) Sep4 Skylimit sent a $250 debit memo to business for the Sep2, 2020 34 Inventory purchase. 35 Dr. A/B Skylimit 250 36 Cr. Inventory 250 37 38 5) Sept9 sold inventory to Dennis for $1800 ( cost of sales $1500) term 2/10, n 30 39 Terms: 2/15, n/30 40 Dr. COGS 1500 41 Cr. Inventory 1500 Dr A/R-Dennis 1800 44 C. Sales 1800 45 466) Sept13, busines collected amount from JenAir in full 5000 ARRA 5000 Dr 49 Dr. 507) Sep12, business paid Skylimit in full 51 3000-250=2750 x 1%=27.50 52 Dr. A/P-Skylimit 2750 53 Cr. Cash 2722.5 54 Cr. Inventory 27.5 55 56 8) Sep14, business bought $5,500 from PacificEast Inc. 57 Terms: 2/5, 1/30 FOB 58 Inventory 5500 59 Cr. A/P-PacificEast 5500 60 2/5, 1/30 FOB 61 629) Sepis, business issued a credit memo $375 to Dennis for the Sep9 inventory sales 63 Dr. Sales 375 64 Cr. A/R-Dennis 375 65 66 10) Sep21, business paid Pacifice East in full 67 Dr. A/P-Pacifice East 5500 68 Cr. Cash 5500 69 70 11) Sept24, collected amount owing from Dennis 71 (1800-375)=1425 x 2%=28.5 72 Dr. Cash 1396.5 Sales 28.5 74 A/R-Dennis 1425 75 76 77 Cr. Sales Journal meeting both conditions Dr. A/R Cr. Sales Cash Receipt Journal ex: Dr. Cash C. any account Dr. Cash Cr. Sales ex Purchase Journal Cash Disbursement Journal Cash pyt Journal) meeting both conditions Dr. expor assets act Ex: Dr. Telexp Cr. A/P Cr. A/P Dr. any account EX Dr. Telep Cr. Cash cr. Cash EX: Dr. office supply exp any entries that do not fit in the Cr. Office Supplies above four groups, then it is General Journal Dr. Int Exp Drinit payable or office equipment Cr. A/P Dr. A/D Cr. Cash Dr. ins/Rent exp Cr. prepaid ins/rent Genearl Journal Dr. Unearned ev Cr. Sales Dr. Gotary Exp C. Salary ayole Dr beprecation Exp Cr. Accumulated Depreciation DE COUS Coventory