E5-19 Journalizing sales transactions Journalize the following sales transactions for Austin Mall. Explanations required. ferent schure Jan. 4 8 13 Sold $10,000 of antiques on account, credit terms are 1/15, n/30. Cost of goods is $5,000. Received a $300 sales return on damaged goods from the customer. Cost of goods damaged is $150. Austin Mall received payment from the customer on the amount due from Jan. 4, less the return and discount. Sold $5,200 of antiques on account, credit terms are 1/10, n/45, FOB destination. Cost of goods is $2,600. Austin Mall paid $120 on freight out. Austin Mall negotiated a $500 allowance on the goods sold on Jan. 20. Received payment from the customer on the amount due from Jan. 20, less the allowance and discount. 20 20 25 29 E5-20 Journalizing purchase and sales transactions Journalize the following transactions for Santa Fe Art Gift Shop. Explanations are not required. Feb. 3 7 9 10 Purchased $2,800 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping point. Returned $700 of defective merchandise purchased on February 3. Paid freight bill of $400 on February 3 purchase. Sold merchandise inventory on account for $4,800. Payment terms were 1/15, n/30. These goods cost the company $2,400. Paid amount owed on credit purchase of February 3, less the return and the discount Granted a sales allowance of $100 on the February 10 sale. Received cash from February 10 customer in full settlement of their debt, less the allowance and the discount. 12 16 23