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Journalize the following transactions that occurred in January 2018 for Sylvia's Amuse ments No explanations are needed. Identify each accounts payable and accounts recevable with
Journalize the following transactions that occurred in January 2018 for Sylvia's Amuse ments No explanations are needed. Identify each accounts payable and accounts recevable with the veador or customer name Sylvia estimates sales returns at the end of each month. Jan. 4. Purchased merchandise inventory on account from Vanderbilt Company, Paid freight bll of $100 on January 4 purchase. 8 $7,000. Terms 110, n/EOM, FOB shipping point. 6 Returned haif the inventory purchased on January 4 from Vanderbilt ' 10. Sold merchandise inventory for cash, $1,600. Cost of goods, $640. FOB 11 Sold merchandise inventory to Graceland Corporation, $10,800, on 12 13 destination: account, terms of 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. 14 17 Received defective inventory as a sales return from the January 13 sale $600. Cost of goods, $300. 18 Purchased inventory of $4,600 on account from Roberts Corporation. Payment terms were 3/10, n/B0, FOB destination. 20, Received cash from Graceland Corporation, less discount
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