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4. On A : g. returned 5. On April 15, paid the amount due to Jax Company in full. Instructions (a) Prepare the journal entries to record the transactions listed above on Rice Co.'s books Rice Co. uses a perpetual inventory system. (b) Assume that Rice Co. paid the balance duc to Jax Company on May 4 instead of April 15 Prepare the journal entry to record this payment. ES-2 Assume that on September 1, Oifice Depot had an inventory that included a variety Jourmalice perpetoaal invensor of calculators. The company uses a perpetual inventory system. During September, these estries transactions occurred. Sept 6 Purchased calculators from Dragoo Co. at a total cost of $1,650, terms n/30 9 Paid freight of $50 on calculators purchased from Dragoo Co. 10 Retumed calculators to Dragoo Co. for $66 credit becau they did not meet specifications 12 Sold calculators costing $520 for $690 to Fryer Book Store, s n/30 14 Granted credit of $45 to Fryer Book Store for the return of one calculator that was not ordered. The calculator cost $34 20 Sold calculators costing $570 for $760 to Heey Card Shop terms o/30 Instructions Journalize the September transactions ES-3 The following transactions are for Alonzo Company 1. On December 3, Alonzo Company sold $500,000 of werchandise to Arte Co terms go L Joumalioe sales mciacnions 1/10, n/30. The cost of the merchandise sold was $330.000 2. On December 8, Arte Co. was granted an allowance of $25,000 for merchandise purchased on December 3. 3. On December 13, Alonzo Company received the balance due from Arte Co Instructions (a) Prepare the journal entries to record these transactions on the books of Alonzo Com pany. Alonzo uses a perpetual inventory system. (b) Assume that Alonzo Company received the balance due from Arte Co, on Jamuary 2 of the following year instead of December 13, Prepare the journal entry to record the receipt of payment on January 2 E5-4 On June 10. Pais Company purchased $9,000 of merchandise from McGiver wmio perptom Company, terms 3/10, n/30. Pals pays the freight costs of $400 on June 11. Goods total. ing $600 are returned to McGiver for credit on June 12. On June 19, Pais Company pays 02. McGiver Company in full, less the purchase discount. Both companies use a perpetual inventory system nstructiosts (a) Prepare separate entries for each transaction on the books of Pais Company (b) Prepare separate entries for each transaction for McGiver Company The merchan- dise purchased by Pais on June 10 cost McGiver $5,000, and the goods returned cost McGiver 5310 ES.5 The adjusted trial halance of Doge Company shows these data pertaining to sa the endd of lts fiscal year, October 31, 2017 Sales Revenue $900,000. Freight-Oue $14,000 Sales Returns and Allowances $22,000, and Sales Discounss $13,500 Prepare the sales section of the income statement es-& Presented below is informatkon for Lieu Co for the month of Janary 2017 Const od gools sold 32.000 212,000 Rent espense .000 12.000 Sales returns and allowances 20.000 income2.000 7000 Sales discounts Salaries and wages espenve Incone tas Other of $400 tax)