Journalize the following transactions that occurred in March 2018 for Dixie Company. Assume Dixie uses the periodic inventory system. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Dixie 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 icon to view the transactions.) Mar. 3: Purchased merchandise inventory on account from Stout Wholesalers, $4,000. Terms 1/15, n/EOM, FOB shipping point Date Accounts Debit Credit Mar 3 Mar. 4: Paid freight bill of $55 on March 3 purchase. Date Accounts Debit Credit Mar. 4 Mar. 4: Purchase merchandise inventory for cash of $2,300. Date Accounts Debit Credit Mar 4 On than an tAthanav Aletin Journalize the following transactions that occurred in March 2018 for Dixie Company. Assume Dixie uses the periodic inventory system. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Dixie 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 icon to view the transactions.) Mar. 6: Returned $200 of inventory from March 3 purchase. Date Accounts Debit Credit Mar 6 Mar. 8: Sold merchandise inventory to Henrich Company, $4,000, on account. Terms 1/15, 1/35. Date Accounts Debit Credit Mar. 8 Mar. 9: Purchased merchandise inventory on account from Teddy Wholesalers, $4,500. Terms 3/10,n/30, FOB destination. Date Accounts Debit Credit Mar. 9 Mar. 10: Made payment to Stout Wholesalers for goods purchased on March 3, less return and discount. Dato Accounts Debit Credit Mar. 10 Mar. 12: Received payment from Henrich Company, less discount. Date Accounts Debit Credit Mar. 12 Mar. 13: After negotiations, received a $400 allowance from Teddy Wholesalers. Date Accounts Debit Credit Mar 13 Mar 15: Sold merchandise inventory to Jerome Company, $1,900, on account. Terms n/EOM. Date Accounts Debit Credit Mar. 15 Mar. 22: Made payment, less allowance, to Teddy Wholesalers for goods purchased on March 9. Date Accounts Debit Credit Mar. 22 Mar. 23. Jerome Company returned $600 of the merchandise sold on March 15. Dato Accounts Debit Credit Mar. 23 Mar. 25: Sold merchandise inventory to Small for $1,300 on account. Terms of 3/10, n/30 were offered, FOB point Date Accounts Debit Credit Mar. 25 Mar. 29: Received payment from Small, less discount Date Accounts Debit Credit Mar 29 * Mar. 30: Received payment from Jerome Company, less return Date Accounts Debit Credit Mar. 30 More Info Mar. 3 Mar. 4 Mar. 4 Mar. 6 Mar. 8 Mar. 9 Mar. 10 Purchased merchandise inventory on account from Stout Wholesalers, $4,000. Terms 1/15, n/EOM, FOB shipping point. Paid freight bill of $55 on March 3 purchase. Purchase merchandise inventory for cash of $2,300, Returned $200 of inventory from March 3 purchase. Sold merchandise inventory to Henrich Company. $4,000, on account. Terms 1715, n/35. Purchased merchandise inventory on account from Teddy Wholesalers, $4,500. Terms 3/10. n/30, FOB destination, Made payment to Stout Wholesalers for goods purchased on March 3, less return and discount Received payment from Henrich Company, less discount. After negotiations, received a $400 allowance from Teddy Wholesalers. Sold merchandise inventory to Jerome Company, $1,900, on account. Terms n/EOM Made payment, less allowance, to Teddy Wholesalers for goods purchased on March 9 Jerome Company returned $600 of the merchandise sold on March 15. Sold merchandise inventory to Small for $1,300 on account Terms of 3/10, n/30 was offered. FOB shipping point Received payment from Small, less discount Received payment from Jerome Company, less retum Mar. 12 Mar 13 Mar. 15 Mar. 22 Mar. 23 Mar 25 Mar. 29 Mar. 30 Print Done
