Journal Entries for Merchandise Transactions- Perpetual System

-Rockford Corporation, which began business on August 1, sells on terms of 2/10, n/30. Credit terms for its purchases vary with the supplier. Selected transactions for August are given below. Unless noted, all transactions are on account and involve meechandise held for resale. The perpetual inventory system is used.

- Prepare journal entries for these transactions for Rockford corporation. Round your answers to the nearest dollar.

Aug 1 Purchased merchandise from Norris, Inc., $4,000, terms 2/10, 1/30. 5 Paid freight on shipment from Norris Inc., $220. 7 Sold merchandise to Denton Corporation, $5,500 (54,100 cost). 7 Paid $300 freight on August 7 shipment and billed Denton for the charges. 9 Returned $800 worth of the merchandise purchased August 1 from Norris. Inc, because it was defective. Norris approved the return. 9 Received $750 of returned merchandise ($500 cost) from Denton Corporation. Rockford approved the return. 10 Paid Norris, Inc., the amount due. 14 Purchased from Chambers, Inc, goods with a price of $9,000. Terms 1/10, 1/30. 15 Paid freight on shipment from Chambers, Inc., $320. 17 Received the amount due from Denton Corporation 18 Sold merchandise to Weber, Inc., $9,600 (56,600 cost), 20 Paid 5350 freight on August 18 shipment and billed Weber for the charges 24 Paid Chambers, Inc, the amount due. 28 Received the amount due from Weber, Inc. Required Prepare journal entries for these transactions for Rockford Corporation. Round your answers to the nearest dollar. GENERAL JOURNAL Date Description Credit Aug. 1 Debit $ $ Purchases from Norris, Inc, 2/10, 1/30 5 . Paid freight on Norris, Inc., shipment 7 e Sales to Denton Corporation 7 e Cost of goods sold to Denton Corporation 7 Paid freight on shipment to Denton Corporation and billed Denton, 9 Returned goods to Norris, Inc. 9 . issued credit memo to Denton for goods returned 9 e Cost of goods returned by Denton Corporation 10 e Cash Paid Norris, Inc., the amount due. 14 Business Course Return to course Cash Paid Norris, Inc., the amount due. . Purchases from Chambers, Inc, 1/10, 1/30. 15 . Paid freight on Chambers shipment 17 Cash 44 Received amount due from Denton Corporation 18 e 0 Sales to Weber, Inc. 18 a . Cost of goods sold to Weber, Inc 20 Paid freight on shipment to Weber, Inc., and billed Weber 24 e Cash Paid Chambers, Inc., the amount due. 28 Cash Received amount due from Weber, Inc