Exercise 5-5 Presented below are transactions related to Bogner Company.

1.	On December 3, Bogner Company sold $666,400of merchandise to Maris Co., terms2/10, n/30, FOB shipping point. The cost of the merchandise sold was $382,800.
2.	On December 8, Maris Co. was granted an allowance of $21,900for merchandise purchased on December 3.
3.	On December 13, Bogner Company received the balance due from Maris Co.

Prepare the journal entries to record these transactions on the books of Bogner Company using a perpetual inventory system.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

No.	Date	Account Titles and Explanation	Debit	Credit
1.	Dec. 3
(To record credit sale.)
(To record cost of merchandise sold.)
2.	Dec. 8
3.	Dec. 13

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Assume that Bogner Company received the balance due from Maris Co. on January 2 of the following year instead of December 13. Prepare the journal entry to record the receipt of payment on January 2.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date	Account Titles and Explanation	Debit	Credit
Jan. 2

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Exercise 5-15 Presented below are selected accounts for Salazar Company as reported in the worksheet using a perpetual inventory system at the end of May 2014. Complete the worksheet by extending amounts reported in the adjusted trial balance to the appropriate columns in the worksheet.

Accounts	Adjusted Trial Balance	Income Statement	Balance Sheet
Debit	Credit	Debit	Credit	Debit	Credit
Cash	21,400
Inventory	83,970
Sales Revenue	505,120
Sales Returns and Allowances	17,940
Sales Discounts	14,320
Cost of Goods Sold	314,460

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