Instructions The following selected transactions were completed by Betz Company during July of the current year. Betz Company uses the net method under a perpetual inventory system. July 1 Purchased merchandise from Sabol Imports Co., $13,201, terms FOB destination, n/30. 3 Purchased merchandise from Saxon Co., $10,050, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $220 was added to the invoice. 5 Purchased merchandise from Schnee Co., $13,450, terms FOB destination, 2/10, n/30. 6 Issued debit memo to Schnee Co. for merchandise with an invoice amount of $4,100 returned from purchase on July 5. 13 Paid Saxon Co. for invoice of July 3. 14 Paid Schnee Co. for invoice of July 5, less debit memo of July 6. 19 Purchased merchandise from Southmont Co., $29,450, terms FOB shipping point, n/eom. 19 Paid freight of $395 on July 19 purchase from Southmont Co. 20 Purchased merchandise from Stevens Co., $22,000, terms FOB destination, 1/10, n/30. 30 Paid Stevens Co. for invoice of July 20. 31 Paid Sabol Imports Co. for invoice of July 1. Chart of Accounts CHART OF ACCOUNTS Betz Company General Ledger ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment REVENUE 410 Sales 610 Interest Revenue EXPENSES 510 Cost of Goods Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 526 Salaries Expense 531 Rent Expense Chart of Accounts 194 Office Equipment 195 Accumulated Depreciation-Office Equipment LIABILITIES 211 Accounts Payable-Sabol Imports Co. 212 Accounts Payable-Saxon Co. 213 Accounts Payable-Schnee Co. 214 Accounts Payable-Southmont Co. 215 Accounts Payable-Stevens Co. 216 Salaries Payable 218 Sales Tax Payable 219 Customer Refunds Payable 221 Notes Payable 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends JOURNAL Score: 77/301 ACCO DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS 1 Jul. 1 Inventory 13,201.00 2 Accounts Payable-Sabol Imports Co. 13,201.00 3 Jul. 3 Inventory 10,069.00 4 Accounts Payable-Schnee Co. 10,069.00 S Jul. 5 Inventory 13,181.00 6 Accounts Payable-Schnee Co. 13,181.00 7 Jul. 6 Accounts Payable-Schnee Co. 8 Jul. 13 acc 9 10 10 11 11