Exercise 8.6 (Static) Journalizing merchandising transactions for buyer and seller. LO 8-1 Bae Company (buyer) and Johnson, Inc. (seller), engaged in the following transactions during February 2013 Bee Company DATE TRANSACTIONS 2ext Feb. 10 Purchased merchandise for $4,000 from Johnson, Inc., Invoice 1910, terms 1/10, 1/30. 13 Received Credit Memorandum 230 from Johnson, Inc., for damaged merchandise totaling 5380 that was returned; the goods were purchased on Invoice 1980, dated February 10. 19 Paid amount due to Johnson, Inc., for Invoice 1980 of February 10, less the return of February 13 and less the cash discount, Check 2010. Johnson, Inc. DATE TRANSACTIONS 28x1 Feb. 10 Sold merchandise for $4,000 on account to Be Company, Invoice 1980, teras 1/10, 1/30. 13 Issued Credit Memorandum 230 to Be Company for damaged merchandise tataling $300 that was returned; the goods were purchased on Invoice 1980, dated February 10. 19 Received payment from a company for Invoice 1960 of February 18, less the return of February 13 and less the cash discount, Check 2010. 5 Required: Journalize the transactions above in a general journal for both Bae Company and Johnson, Inc. Complete this question by entering your answers in the tabs below. View traction list ERE X int ences 1 Purchased merchandise for $4,000 from Johnson, Inc., Invoice 1980, terms 1/10, n/30. terms 2 Received Credit Memorandum 230 from Johnson, Inc., for damaged merchandise totaling $300 that was returned; the goods were purchased on Invoice 1980, dated February 10. 3 Credit Paid amount due to Johnson, Inc., for Invoice 1980 of February 10, less the return of February 13 and less the cash discount, Check 2010. Note: = journal entry has been entered Record entry Clear entry View general jou View transaction list Journal entry worksheet 1 ces 2 3 > Purchased merchandise for $4,000 from Johnson, Inc., Invoice 1980, terms 1/10, n/30. Note: Enter debits before credits. Date General Journal Debit Credit Feb 10, 20X1 Record entry Clear entry View general journal Journalize the transactions above in a general journal for Johnson Inc. assuming tha Hint View transion list Print EX: References 1 Sold merchandise for $4,000 on account to Bae Company, Invoice 1980, terms 1/10, n/30. 30, terms 2 Issued Credit Memorandum 230 to Bae Company for damaged merchandise totaling $300 that was returned; the goods were purchased on Invoice 1980, dated February 10. Credit 3 Received payment from Bae Company for Invoice 1980 of February 10, less the return of February 13 and less the cash discount, Check 2010. Note : = journal entry has been entered Record entry Clear entry View genera Bae Company Johnson Inc Journalize the transactions above in a general journal for Johnson Inc. assuring that they use the periodic system. View transaction list Journal entry worksheet 1 2 > Sold merchandise for $4,000 on account to Bae Company, Invoice 1980, terms 1/10, 1/30. Note: Enter debits before credits. General Journal Debit Credit Date Feb 10, 20X1 Record entry Clear entsy View general journal