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CHAPTER 5 ng for Merchandising Activities sed andise to Avenu & Wiest for sq.50o erms 2/6, n/15, Foua destination (cast of sales hased $4.200 ot merhand be from Angolac supplie s: terms 1/10, n 20. Foe shipping pont. merchandise inventoru from Bast merchandise to sas ooo 311,400: terms 1/15. rv4s. FoB sales. ted the amount owing from 2/6. 15, Fon cost of sale $7,700). ace suppliers the est regarding the June 1 sa June 2 purchase. paid Angol owing from Geigar regarding the June sale 4 purchase paid Bastile Sales for the Jun the information provided above, the month ended June 30, 2017 calculate (a) net sales (b) cost of goods sold, and (c) gross 5.2A Journal entries for merchandising activities-perpetual L blem urnal entries to record the following perpetual system, merchandising transactions of neral jou use a separate account for each receivable and payable; for erampte, record the Company nts Payable Jones Company. Do the analysis component purchased from company for s14.Boo credit terms of 1/15. n/30. Fos actoru seld handise to Terra Co. for $2,600 under credit terms of 2/10, ny60, FoB shipping point The $1,q50. merchandise had cost for freight charges on the purchase of July 1 sold merchandise that cost $3.825 for $5,100 cash purchased merchandise from keene Co for terms of 2 15. rw60. FoB destinakon a credit memo acknowledging the returm of merchandise purchased on July ved the balance due from Terra Co. for the credit sale dated July 2 12 purchased office supplies from Eastco on credit, $q60. n/30 t6 paid the balance due to Jones Company sold merchandise that cost a s300 credit memo to Urban cor for an allowance on goods sold on 1 2q Paid Keene Co., the balance due the hat cost Urban Terra co. for$10,000 under credit terms of 2/10, n/60. Foe shipping point. from Solid merchandise kaysis Component: A the senior purchaser for Belton Company, you are concerned that the purchase dscounts ou have ated not being taken advantage of by the accounts payable department. are purchase from Keene Co te the total dollar value impact to Belton Company of paying the July 9 the discount period. Consider both the lost early payment discount and the cost of capital for the period after the discount period elapsed to the date Belton Company made the payment (assume a 6% terest rate; round calculations to four decimal pin Draft an email to the accounts payable depart ment the overall dollar value inn yaying the invoice after the discount period and how explaining e discounts going forward Belton Company can better take advantag Problem 5-3A Journal entries for merchandla es es-- perpetual L u the world and sells to local retailers in Canada. Prepare transactions of The Jewel The Jewel Box purchases jewellery from aroun netaljoumal entries to record the followiny perpetual sys record the purchase on e a separate account for each receivable and pauahte: in Accounts Payable Luu Company 369