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Journalize the following transactions. Make journal entries Student/PlayerTest.aspx?testld- 1771080028centerwin-yes 5-6, 8-9) 5 of 5 (4 complete) More Info at tions Sep. 3 Purchased merchandise inventory

Journalize the following transactions. Make journal entries image text in transcribed

Student/PlayerTest.aspx?testld- 1771080028centerwin-yes 5-6, 8-9) 5 of 5 (4 complete) More Info at tions Sep. 3 Purchased merchandise inventory on account from Sharp Wholesalers, $3,500. 4 4 6 Terms 2/15, n/EOM, FOB shipping point. Paid freight bill of $40 on September 3 purchase. Purchase merchandise inventory for cash of $1,500. Returned $900 of inventory from September 3 purchase. tory Acc 8 Sold merchandise inventory to Hayes Company, $5,400, on account. Terms 3 5 n/35. Cost of goods, $2,538 Purchased merchandise inventory on account from Teaton Wholesalers, $12,000. Terms 1/10, n/30, FOB destination. 9 10 Made payment to Sharp Wholesalers for goods purchased on September 3, less return and discount. 12 Received payment from Hayes Company, less discount 13 After negotiations, received a $200 allowance from Teaton Wholesalers 15 Sold merchandise inventory to Java Company, $3,500, on account. Terms nvEOM tembe Cost of goods, $1,470 Made payment, less allowance, to Teaton Wholesalers for goods purchased on 22 umbe Print Done

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