Journalize the following transactions that occurred in January 2018 for Sylvia's Amusements, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Sylvia estimates sales returns at the end of each month. (Record debits first then credits Exclude explanations from journal entries. Assume the company records sales at the net amount) Click the loon to view the transactions.) Jan. 4: Purchased merchandise inventory on account from Vanderbilt Company, 87,000. Torma 1/10, VEOM, FOB shipping point Date Accounts Debit Credit Jan 4 Jan. 6: Paid freight bill of $100 on January 4 purchase Accounts Date Credit Debit In Choose from any list or enter any number in the input fields and then continue to the next question. Jan 8 Returned half of the inventory purchased on January 4 from Vanderbilt Company Date Accounts Debit Credit Jana Jan 10: Sold merchandise inventory for cash, S1,600. Cost of goods 5640. FOB destination Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step, Accounts Debit Credit Date Now journalize the expense related to the January 10 sale--Cost of goods, S640. Date Accounts Debit Credit Jan 10 Jan. 11: Sold merchandise inventory to Graceland Corporation, $10,800, on account. Terms 1/10, n/EOM. Cost of goods, $5,400. FOB shipping point. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Accounts Date Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Now journalize the expense related to the January 11 sale -Cost of goods, $5,400. Date Accounts Debit Credit Jan. 11 Jan. 12: Paid freight bill of $60 on January 10 sale. Date Accounts Debit Credit Jan. 12 Choose from any list or enter any number in the input fields and then continue to the next question. Jan. 13: Sold merchandise inventory to Cabbell Company for $9,500 on account, terms of n/45. Cost of goods, 55.225. FOB shipping point Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit Jan. 13 Now journalize the expense related to the January 13 sale-Cost of goods, $5,225 Accounts Date Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Jan 14: Paid the amount owed on account from January 4, less return and discount. Date Accounts Debit Credit Jan. 14 Jan. 17: Received defective inventory as a sales return from the January 13 sale, $600, Cost of goods, $300 Start by preparing the entry to record the sales return and decrease the receivable. Do not update the Merchandise Inventory with this entry. We will do that in the following step Date Anita Corte Choose from any list or enter any number in the input fields and then continue to the next question Now prepare the entry to update the Merchandise Inventory account for the cost of the returned merchandise-Cost of goods returned Date Accounts Debit Credit Jan. 17 Jan 18: Purchased inventory of $4,600 on account from Roberts Corporation. Payment terms were 3/10,n/30, FOB destination Date Accounts Debit Credit Jan. 18 Choose from any list or enter any number in the input fields and then continue to the next question. Jan. 20: Received cash from Graceland Corporation, less discount. Date Accounts Debit Credit Jan. 20 Jan. 26: Paid amount owed on account from January 18, less discount. Date Accounts Debit Credit Jan. 26 Choose from any list or enter any number in the input fields and then continue to the next question. Jan. 28: Received cash from Cabbell Company, less return. Date Accounts Debit Credit Jan 28 Jan. 29: Purchased inventory from Sandra Corporation for cash, $11,600, FOB shipping point. Freight in paid to shipping company, $240. Start by preparing the entry to record the purchase of inventory. Do not record the freight. We will do that in the following step. Date Accounts Debit Credit Now record the freight paid to shipping company, $240. Date Accounts Debit Credit Jan. 29 Choose from any list or enter any number in the input fields and then continue to the next question. i More Info eti Jan. 4 Jan. 6 Jan. 8 Jan. 10 Jan. 11 Purchased merchandise inventory on account from Vanderbilt Company, $7,000. Terms 1/10, n/EOM, FOB shipping point. Paid freight bill of $100 on January 4 purchase. Returned half of the inventory purchased on January 4 from Vanderbilt Company. Sold merchandise inventory for cash, $1,600. Cost of goods, $640. FOB destination. Sold merchandise inventory to Graceland Corporation, $10,800, on account, terms 1/10, n/EOM. Cost of goods, $5,400. FOB shipping point. Paid freight bill of $60 on January 10 sale. Sold merchandise inventory to Cabbell Company, $9,500 on account, terms of n/45. Cost of goods, $5,225. FOB shipping point. Paid the amount owed on account from January 4, less return and discount. Received defective inventory as a sales return from the January 13 sale, $600. Cost of goods, $300. Purchased inventory of $4 600 on account from Roberts Corporation Payment Jan. 12 Jan. 13 Jan. 14 Jan. 17 More Info - Jan. 11 Jan. 12 Jan. 13 Jan. 14 Jan. 17 TTU, N/EUM. Cost or goods, $5,400. FUB Snipping point. Paid freight bill of $60 on January 10 sale. Sold merchandise inventory to Cabbell Company, $9,500 on account, terms of n/45. Cost of goods, $5,225. FOB shipping point. Paid the amount owed on account from January 4, less return and discount Received defective inventory as a sales return from the January 13 sale, $600. Cost of goods, $300. Purchased inventory of $4,600 on account from Roberts Corporation. Payment terms were 3/10, n/30, FOB destination. Received cash from Graceland Corporation, less discount. Paid amount owed on account from January 18, less discount. Received cash from Cabbell Company, less return. Purchased inventory from Sandra Corporation for cash, $11,600, FOB shipping point. Freight in paid to shipping company, $240. Jan. 18 Jan. 20 Jan. 26 Jan. 28 Jan. 29