journal entries

Value of Ending Inventory Cost of Goods Sold Gross Profit 5,390.00 AM, 4800 6 120 $ 10,010.00 $ 10,600.00 $9, 280.00 $ 19,990.00 $ 19,400.00 $ 20,720.00 Make Journal entries for the following transactions for the Hat Store a 3/1 c d 3/5 3/6 3/8 Hat Store buys hats on account for $4,400 from a distributor with terms FOB shipping point and payment 2/10 net 30 Paid freight on the purchase from 3/1 cash $100 Sold 20 hats to a baseball team for $600 on account 3/10 net 30. The cost of the hats was $200 Hat store returned 3 damaged hats, related to 3/1 purchase and received a $200 credit Paid the distributor for the purchase in #1 in full and took the discount. Remember to subtract the discount.. Hat store bought more hats for $6,500, cash. No freight cost Received payment from the customer for merchandise sold on 3/5. Customer took the discount. Hat store sold 50 hats for 1200 cash. Terms are FOB destination. The cost of the 50 hats was $500 The Hat store paid freight on the 3/9 sale $100 cash Customer from 3/9 sale returned 5 hats and we gave them cash back of $120. The cost on those hats was $50 3/8 3/9 3/9 3/10 3/11 DATE Account Debit Credit 1. Mar Purchases Acc Payable 4400 4400 2.Mar Freight