Jounral Transactions:

09/03/2018

Purchased merchandise inventory on account from Sharpner Wholesalers, $5,500. Terms 2/15, n/EOM, FOB shipping point.

09/04/2018

Paid freight bill of $85 on September 3 purchase.

09/04/2018

Purchased merchandise inventory for cash of $1,600.

09/06/2018

Returned $1,300 of inventory from September 3 purchase.

09/08/2018

Sold merchandise inventory to Herman Company, $5,700, on account. Terms 2/15, n/35. Cost of goods, $2,565 (record two separate transactions).

09/09/2018

Purchased merchandise inventory on account from Tucker Wholesalers, $6,000. Terms 3/10, n/30, FOB destination.

09/10/2018

Made payment to Sharpner Wholesalers for goods purchased on September 3, less the return and the discount.

09/12/2018

Received payment from Herman Company, less the discount.

09/13/2018

After negotiations, received a $500 allowance from Tucker Wholesalers.

09/15/2018

Sold merchandise inventory to Jerome Company, $2,800, on account. Terms n/EOM. Cost of goods, $1,200 (record two separate transactions).

09/22/2018

Made payment less allowance to Tucker Wholesalers for goods purchased on September 9.

09/23/2018

Jerome Company returned $200 of the merchandise sold on September 15. Cost of goods, $80 (record two separate transactions).

09/25/2018

Sold merchandise inventory to Small for $1,800 on account that cost $738. Terms of 3/10, n/30 were offered, FOB shipping point. As a courtesy to Small, $40 of freight was added to the invoice for which cash was paid by Aquamarines (record two separate transactions).

09/29/2018

Received payment from Small, less discount.

09/30/2018

Received payment from Jerome Company, less the return.