Journalize the following transactions that occurred in September 2018 for Orange Glove, 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. Orange Glove 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.) Sep. 3: Purchased merchandise inventory on account from Sheldon Wholesalers, $3,500. Terms 2/15, n/EOM, FOB shipping point. Date Accounts Debit Credit Sep. 3 Sep. 4: Paid freight bill of $70 on September 3 purchase. Date Accounts Debit Credit Sep.4 Sep. 4: Purchase merchandise inventory for cash of $2,400. Date Accounts Debit Credit Sep.4 Sep. 6: Returned $900 of inventory from September 3 purchase. Date Accounts Debit Credit Sep. 6 Sep. 8: Sold merchandise inventory to Hollingshead Company, $5,500, on account. Terms 2/15, n/35. Cost of goods, $2,530. 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 Neyt Sep. 9: Purchased merchandise inventory on account from Tex Wholesalers, $9,000. Terms 1/10, n/30, FOB destination. Date Accounts Debit Credit Sep. 9 Sep. 10: Made payment to Sheldon Wholesalers for goods purchased on September 3, less return and discount. Date Accounts Debit Credit Sep. 10 Sep. 12: Received payment from Hollingshead Company, less discount. Date Accounts Debit Credit Sep. 12 Neyt Sep. 12: Received payment from Hollingshead Company, less discount. Date Accounts Debit Credit Sep. 12 Sep. 13: After negotiations, received a $300 allowance from Tex Wholesalers. Date Accounts Debit Credit Sep. 13 Sep. 15: Sold merchandise inventory to Java Company, $2,600, on account. Terms n/EOM. Cost of goods, $1,222. 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. Neyt Sep. 15: Sold merchandise inventory to Java Company, $2,600, on account. Terms n/EOM. Cost of goods, $1,222. 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 Sep. 15 Now journalize the expense related to the September 15 sale-Cost of goods, $1,222. Date Accounts Debit Credit Sep. 15 Sep. 22: Made payment, less allowance, to Tex Wholesalers for goods purchased on September 9. II Neyt Sep. 22: Made payment, less allowance, to Tex Wholesalers for goods purchased on September 9. Date Accounts Debit Credit Sep. 22 Sep. 23: Java Company returned $800 of the merchandise sold on September 15. Cost of goods, $376. Start by preparing the entry to record the refund and decrease to the receivable. Do not update the Merchandise Inventory with this entry. We will do that in the following step. Date Accounts Debit Credit Sep. 23 Now prepare the entry to update the Merchandise Inventory account for the cost of the returned merchandise-Cost of goods returned, $376. II Neyt Now prepare the entry to update the Merchandise Inventory account for the cost of the returned merchandise-Cost of goods returned, $376. Date Accounts Debit Credit Sep. 23 Sep. 25: Sold merchandise inventory to Sciavone for $1,300 on account that cost $559. Terms of 1/10, n/30 was offered, FOB shipping point. As a courtesy to Sciavone, $55 of freight was added to the invoice for which cash was paid by Orange Glove. Begin by preparing a compound journal entry to journalize the sale and the full amount of the receivable from this transaction. Do not record the expense related to the sale. We wi do that in the following step. (Prepare a compound journal entry.) Date Accounts Debit Credit Sep. 25 Neyt L JL Now journalize the expense related to the September 25 sale-Cost of goods, $559. Date Accounts Debit Credit Sep. 25 Sep. 29: Received payment from Sciavone, less discount. Date Accounts Debit Credit Sep. 29 Sep. 30: Received payment from Java Company, less return. Date Accounts Debit Credit Neyt Sep. 29: Received payment from Sciavone, less discount. Date Accounts Debit Credit Sep. 29 Sep. 30: Received payment from Java Company, less return. Date Accounts Debit Credit Sep. 30 Neyt More info Sep. 3 Sep. 4 Sep. 4 Sep. 6 Sep. 8 Sep. 9 Purchased merchandise inventory on account from Sheldon Wholesalers, $3,500. Terms 2/15, n/EOM, FOB shipping point. Paid freight bill of $70 on September 3 purchase. Purchase merchandise inventory for cash of $2,400. Returned $900 of inventory from September 3 purchase. Sold merchandise inventory to Hollingshead Company, $5,500, on account. Terms 2/15, n/35. Cost of goods, $2,530. Purchased merchandise inventory on account from Tex Wholesalers, $9,000. Terms 1/10, n/30, FOB destination. Made payment to Sheldon Wholesalers for goods purchased on September 3, less return and discount Received payment from Hollingshead Company, less discount. After negotiations, received a $300 allowance from Tex Wholesalers. Sold merchandise inventory to Java Company, $2,600, on account. Terms n/EOM. Cost of goods, $1,222. Made payment, less allowance, to Tex Wholesalers for goods purchased on September 9. Java Company returned $800 of the merchandise sold on September 15. Cost of goods, $376. Sep. 10 Sep. 12 Sep. 13 Sep. 15 Sep. 22 Sep. 23 Caldabondios isotonite Caious for 01200 s Lust that osat CCO Tam of More info Sep. 6 Sep. 8 Sep. 9 Sep. 10 Sep. 12 Sep. 13 Returned $900 of inventory from September 3 purchase. Sold merchandise inventory to Hollingshead Company, $5,500, on account. Terms 2/15, n/35. Cost of goods, $2,530. Purchased merchandise inventory on account from Tex Wholesalers, $9,000. Terms 1/10, n/30, FOB destination. Made payment to Sheldon Wholesalers for goods purchased on September 3, less return and discount Received payment from Hollingshead Company, less discount After negotiations, received a $300 allowance from Tex Wholesalers. Sold merchandise inventory to Java Company, $2,600, on account. Terms n/EOM. Cost of goods, $1,222. Made payment, less allowance, to Tex Wholesalers for goods purchased on September 9. Java Company returned $800 of the merchandise sold on September 15. Cost of goods, $376. Sold merchandise inventory to Sciavone for $1,300 on account that cost $559. Terms of 1/10, n/30 was offered, FOB shipping point. As a courtesy to Sciavone, $55 of freight was added to the invoice for which cash was paid by Orange Glove. Received payment from Sciavone, less discount Received payment from Java Company, less return. Sep. 15 Sep. 22 Sep. 23 Sep. 25 Sep. 29 Sep. 30