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Journalize the following transactions: Jan 3 Sullivan Co. sold merchandise on account to Barney Co., $7,200, terms FOB destination, net/eom. The cost of the merchandise
Journalize the following transactions: Jan 3 Sullivan Co. sold merchandise on account to Barney Co., $7,200, terms FOB destination, net/eom. The cost of the merchandise sold was $2,300. Jan 8 Sullivan Co. paid $335 freight charges on purchase from Sullivan Co. Jan 14 Sullivan Co. issued Barney Co. a credit memo for merchandise returned, $1,200. The cost of the merchandise returned was $700. Jan 30 Sullivan Co.received payment from Barney Co. for purchase of Jan 3. Journalize the entries for Sullivan Company first below (format: use Chart of Accounts for names, but DO NOT bother to include company names; debits and credits should be whole numbers, WITH COMMAS, but NO DECIMALS OR DOLLAR SIGNS) Date Account Names Debit Credit Jan 3
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