elementary accounting

Instructions Illustrate the effects of each of the preceding transactions on the accounts and financial statements of Epic Co. Identify each transaction by date. P4-2 Sales-related transactions The following selected transactions were completed by Affordable Supplies Co., which sells supplies primarily to wholesalers and occasionally to retail customers. Jan. 6. Sold merchandise on account, $14,000, terms FOB shipping point n/eom. The cost of merchandise sold was $8,400. 8. Sold merchandise on account, $20,000, terms FOB destination, 1/10, 1/30. The cost of merchandise sold was $14,000. 16. Sold merchandise on account, $19,500, terms FOB shipping point, n/30. The of merchandise sold was $11,700. 18. Received check for amount due for sale on January 8. 19. Issued credit memorandum for $4,500 for merchandise returned from January 16. The cost of the merchandise returned was $2,700. 26. Received check for amount due for sale on January 16 less credit memo of January 19. e returned from sale on SS credit memorandum 31. Paid Cashell Delivery Service $3,000 for merchandise delivered during customers under shipping terms of FOB destination. 31. Received check for amount due for sale of January 6. ered during January to