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Journalize entries for the following related transactions of Lily Healing & Air Company Refer to the Chart of Accounts for exact wording of accounties A

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Journalize entries for the following related transactions of Lily Healing & Air Company Refer to the Chart of Accounts for exact wording of accounties A Purchased $28,000 of merchandise from Schell Ca an account terms 1/10 n/30 B. Paid the amount owed on the invoice within the discount penod. c. Discovered that $9,000 of the merchandise purchased in (A) was defective and returned items, receiving credit. D. Purchased $5000 of merchandise from Schell Co on account termsn/20 E. Received a refund from Schell Co. for retum in (C) less the purchase in (D) Journalize entries for the transactions of Lily Heating & Air Company Refer to the Chart of Accounts for exact wording of account hitles For grading purposes use December CHART OF ACCOUNTS transactions Lilly Heating & Air Company General Ledger PAGE 10 JOURNAL REVENUE 410 Sales 810 Rent Revenue DESCRIPTION POST. REF. DERIT CREDIT ACCOUNTING: FOULATION ASSETS HABILITIES FOUTY ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 194 Office Equipment 195 Accumulated Depreciation Office Equipment EXPENSES 501 Cost of Goods Solu 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense Store Equipment 525 Depreciation Expense-Office Equipment 533 Insurance Expense 534 Store Supplies Expense 535 Ollice Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense LIABILITIES 211 Accounts Payable-Schell Co. 216 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary

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