Homework: Week Three: Chapter 5: Problems Score: 0 of 1 pt 1 of 8 (0 complete) P5-31A (similar to) Journalize the following transactions that occurred in September 2016 for Red Hawk, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name (Click the icon to view the transactions.) Sep 3: Purchased merchandise inventory on account from Shue Wholesalers, $5,500. Terms 3/15, n/EOM, FOB shipping point. Date Accounts Debit Credit More Info Sep. 3 Sep 3 Purchased merchandise inventory on account from Shue Wholesalers, $5,500. Terms 3/15, n/EOM, FOB shipping point. 4 Paid freight bill of $55 on September 3 purchase. 4 Purchase merchandise inventory for cash of $1,600 6 Returned $800 of inventory from September 3 purchase. 8 Sold merchandise inventory to Herman Company, $6,100, on account. Terms 2/15, n/35. Cost of goods, $2,623. 9 Purchased merchandise inventory on account from Tristan Wholesalers, $6,000. Terms 3/10, n/30, FOB destination. 10 Made payment to Shue Wholesalers for goods purchased on September 3, less return and discount. 12 Received payment from Herman Company, less discount. 13 After negotiations, received a $400 allowance from Tristan Wholesa 15 Sold merchandise inventory to Jex Company, $3,500, account. Terms 3/10, n/EOM. Cost of goods, $1,575. 22 Made payment, less allowance, to Tristan Wholesalers for goods purchased on September 9. 23 Jex Company returned $1,000 of the merchandise sold on September 15. Cost of goods, $450. 25 Sold merchandise inventory to Salter for $2,000 on account that cost $740. Terms of 2/10, n/30 were offered, FOB shipping point. As a courtesy to Salter, $55 of freight was added to the invoice for which cash was paid by Red Hawk. 26 After negotiations, granted a $300 allowance to Salter for merchandise purchased on September 25. 29 Received payment from Salter, less allowance and discount. 30 Received payment from Jex Company, less return. Print Done