Journalize the following transactions that occurred in September 2018 for Oceanic, 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. Oceanic 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 Shield Wholesalers, 53,500. Terms 1/15, n/EOM, FOB shipping point. - X Date Accounts Debit Credit More Info Sep 3 4 4 Sep. 4: Paid freight bill of $75 on September 3 purchase Date Accounts Debit Credit Sep. 4 Sep. 3 Purchased merchandise inventory on account from Shield Wholesalers, $3.500. Terms 1/15, n/EOM, FOB shipping point. Paid freight bill of $75 on September 3 purchase. Purchase merchandise inventory for cash of $2,000. 6 Returned $700 of inventory from September 3 purchase. 8 Sold merchandise inventory to Hilton Company. $6,400, on account. Terms 3/15. n/35. Cost of goods. $2.560. 9 Purchased merchandise inventory on account from Tarin Wholesalers. $9.500. Terms 2/10,n/30. FOB destination. 10 Made payment to Shield Wholesalers for goods purchased on September 3. less return and discount. 12 Received payment from Hilton Company, less discount. 13 After negotiations, received a $400 allowance from Tarin Wholesalers. 15 Sold merchandise inventory to Jeeves Company. $2.900, on account. Terms n/EOM. Cost of goods, $1,218. 22 Made payment, less allowance, to Tarin Wholesalers for goods purchased on September 9. 23 Jeeves Company returned $500 of the merchandise sold on September 15. Cost of goods. $210. 25 Sold merchandise inventory to Shelton for $2.100 on account that cost $819. Terms of 1/10, n/30 was offered, FOB shipping point. As a courtesy to Shelton, $70 of freight was added to the invoice for which cash was paid by Oceanic. 29 Received payment from Shelton, less discount. 30 Received payment from Jeeves Company, less return. Sep. 4: Purchase merchandise inventory for cash of $2.000 Date Accounts Debit Credit Sep. 4 Sep. 6: Returned $700 of inventory from September 3 purchase Date Accounts Debit Credit Print Done from anu lint field antion Journalize the following transactions that occurred in September 2018 for Oceanic, 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. Oceanic 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. 6: Returned $700 of inventory from September 3 purchase Date Accounts Debit Credit More Info Sep. 6 Sep. Sep. 8: Sold merchandise inventory to Hilton Company, S6,400, on account. Terms 3/15, 1/35. Cost of goods, $2,560. 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 Date Accounts Debit Credit Sep. 8 3 Purchased merchandise inventory on account from Shield Wholesalers, $3.500. Terms 1/15, n/EOM, FOB shipping point. 4 Paid freight bill of $75 on September 3 purchase 4 Purchase merchandise inventory for cash of $2,000. 6 Returned $700 of inventory from September 3 purchase 8 Sold merchandise inventory to Hilton Company. $6,400, on account. Terms 3/15. n/35. Cost of goods, $2,560. 9 Purchased merchandise inventory on account from Tarin Wholesalers. $9,500. Terms 2/10, n/30, FOB destination. 10 Made payment to Shield Wholesalers for goods purchased on September 3. less return and discount. 12 Received payment from Hilton Company, less discount. 13 After negotiations, received a $400 allowance from Tarin Wholesalers. 15 Sold merchandise inventory to Jeeves Company. $2.900, on account. Terms n/EOM. Cost of goods, $1,218. 22 Made payment, less allowance, to Tarin Wholesalers for goods purchased on September 9. 23 Jeeves Company returned S500 of the merchandise sold on September 15. Cost of goods, $210. 25 Sold merchandise inventory to Shelton for $2.100 on account that cost $819. Terms of 1/10, n/30 was offered. FOB shipping point. As a courtesy to Shelton, $70 of freight was added to the invoice for which cash was paid by Oceanic. 29 Received payment from Shelton, less discount. 30 Received payment from Jeeves Company, less return Now journalize the expense related to the September 8 saleCost of goods. $2.560. Date Accounts Debit Credit Sep. 8 Sep. 9: Purchased merchandise inventory on account from Tarin Wholesalers. $9,500. Terms 2/10, n/30. FOB destination. Date Accounts Debit Credit Print Done Journalize the following transactions that occurred in September 2018 for Oceanic, 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. Oceanic 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.) A (Click the icon to view the transactions.) Sep. 9: Purchased merchandise inventory on account from Tarin Wholesalers, S9,500. Terms 2/10,n/30. FOB destination Date Accounts Debit Credit More Info -X Sep. 9 Sep. 10: Made payment to Shield Wholesalers for goods purchased on September 3. less return and discount. Date Accounts Debit Credit Sep. 10 Sep. 3 Purchased merchandise inventory on account from Shield Wholesalers, $3.500. Terms 1/15, n/EOM, FOB shipping point. 4 Paid freight bill of $75 on September 3 purchase. 4 Purchase merchandise inventory for cash of $2,000. 6 Returned $700 of inventory from September 3 purchase 8 Sold merchandise inventory to Hilton Company. $6,400, on account. Terms 3/15. n/35. Cost of goods. $2,580. 9 Purchased merchandise inventory on account from Tarin Wholesalers. $9.500. Terms 2/10, n/30, FOB destination. 10 Made payment to Shield Wholesalers for goods purchased on September 3. less return and discount. 12 Received payment from Hilton Company, less discount. 13 After negotiations, received a $400 allowance from Tarin Wholesalers. 15 Sold merchandise inventory to Jeeves Company. $2,900, on account. Terms n/EOM. Cost of goods, $1.218. 22 Made payment, less allowance, to Tarin Wholesalers for goods purchased on September 9. 23 Jeeves Company returned $500 of the merchandise sold on September 15. Cost of goods. $210. 25 Sold merchandise inventory to Shelton for $2.100 on account that cost $819. Terms of 1/10, n/30 was offered, FOB shipping point. As a courtesy to Shelton, $70 of freight was added to the invoice for which cash was paid by Oceanic. 29 Received payment from Shelton, less discount. 30 Received payment from Jeeves Company, less return. Sep. 12: Received payment from Hilton Company, less discount. Date Accounts Debit Credit Sep. 12 Sep. 13: After negotiations, received a $400 allowance from Tarin Wholesalers. Date Accounts Debit Credit Sep. 13 Print Done Choose from any list or enter any number in the input fields and then continue to the next question. ournalize the following transactions that occurred in September 2018 for Oceanic, 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. Oceanic estimates sales returns at the end of ach month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount.) i (Click the icon to view the transactions.) Sep. 13: After negotiations, received a $400 allowance from Tarin Wholesalers. Date -X Accounts Debit Credit i More Info Sep. 13 Sep 4 4 Sep. 15: Sold merchandise inventory to Jeeves Company. $2,900, on account. Terms n/EOM. Cost of goods. 91.218. egin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do Date Accounts Debit Credit Sep. 15 3 Purchased merchandise inventory on account from Shield Wholesalers, $3.500. Terms 1/15, NEOM, FOB shipping point. Paid freight bill of $75 on September 3 purchase. Purchase merchandise inventory for cash of $2,000 6 Returned $700 of inventory from September 3 purchase. 8 Sold merchandise inventory to Hilton Company. $6,400, on account. Terms 3/15. n/35. Cost of goods, $2,580. 9 Purchased merchandise inventory on account from Tarin Wholesalers. $9.500. Terms 2/10, n/30, FOB destination. 10 Made payment to Shield Wholesalers for goods purchased on September 3. less return and discount. 12 Received payment from Hilton Company, less discount. 13 After negotiations, received a $400 allowance from Tarin Wholesalers. 15 Sold merchandise inventory to Jeeves Company. $2.900, on account. Terms n/EOM. Cost of goods, $1,218. 22 Made payment, less allowance, to Tarin Wholesalers for goods purchased on September 9. 23 Jeeves Company returned $500 of the merchandise sold on September 15. Cost of goods. $210. 25 Sold merchandise inventory to Shelton for $2,100 on account that cost $819. Terms of 1/10, n/30 was offered, FOB shipping point. As a courtesy to Shelton $70 of freight was added to the invoice for which cash was paid by Oceanic. 29 Received payment from Shelton, less discount. 30 Received payment from Jeeves Company, less return. How journalize the expense related to the September 15 sal Cost of goods, $1.218. Date Accounts Debit Credit Sep. 15 Sep. 22: Made payment, less allowance, to Tarin Wholesalers for goods purchased on September 9. = Date Accounts Dehit Credit Print Done hoose from any list or enter any number in the input fields and then continue to the next question. Journalize the following transactions that occurred in September 2018 for Oceanic, 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. Oceanic 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. 22: Made payment less allowance, to Tarin Wholesalers for goods purchased on September 9. - X More Info Date Accounts Debit Credit Sep. 22 Sep. 23: Jeeves Company returned $500 of the merchandise sold on September 15. Cost of goods $210. Start by preparing the entry to record the refund and decrease to the receivable. Do not update the Merchandise Inventory with this en Date Accounts Debit Credit Sep. 23 Sep. 3 Purchased merchandise inventory on account from Shield Wholesalers, $3.500. Terms 1/15, NEOM, FOB shipping point. 4 Paid freight bill of $75 on September 3 purchase. 4 Purchase merchandise inventory for cash of $2.000. 6 Returned $700 of inventory from September 3 purchase. 8 Sold merchandise inventory to Hilton Company. $6,400, on account. Terms 3/15. n/35. Cost of goods. $2,580. 9 Purchased merchandise inventory on account from Tarin Wholesalers. $9.500. Terms 2/10, 1/30, FOB destination. 10 Made payment to Shield Wholesalers for goods purchased on September 3. less return and discount Received payment from Hilton Company, less discount. 13 After negotiations, received a $400 allowance from Tarin Wholesalers 15 Sold merchandise inventory to Jeeves Company. $2.900, on account. Terms n/EOM. Cost of goods, $1,218. 22 Made payment, less allowance, to Tarin Wholesalers for goods purchased on September 9. 23 Jeeves Company returned $500 of the merchandise sold on September 15. Cost of goods. $210. 25 Sold merchandise inventory to Shelton for $2.100 on account that cost $819. Terms of 1/10, n/30 was offered, FOB shipping point. As a courtesy to Shelton, $70 of freight was added to the invoice for which cash was paid by Oceanic. 29 Received payment from Shelton, less discount. 30 Received payment from Jeeves Company, less return. II Now prepare the entry to update the Merchandise Inventory account for the cost of the returned merchandise-Cost of goods returne Date Accounts Debit Credit Sep. 23 Sep. 25: Sold merchandise inventory to Shelton for $2.100 on account that cost $819. Terms of 1/10. n/30 was offered, FOB shipping Print Done Choose from any list or enter any number in the input fields and then continue to the next question. Journalize the following transactions that occurred in September 2018 for Oceanic, 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. Oceanic estimates sales returns at the 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. 25: Sold merchandise inventory to Shelton for $2,100 on account that cost $819. Terms of 1/10, n/30 was offered, FOB shipping point As a courtesy to Shelton S70 of freinht was added to the invoice for which cash was said by Oceanic Begin by preparing a compound journal entry to journalize the sale and the full amount of the receivable from this transaction. Do not More Info -X entry) Accounts Credit Date Debit Sep. 25 Sep. Now journalize the expense related to the September 25 sale Cost of goods, 5819. Date Accounts Debit Credit Sep. 25 3 Purchased merchandise inventory on account from Shield Wholesalers, $3.500. Terms 1/15, NEOM, FOB shipping point Paid freight bill of $75 on September 3 purchase. 4 Purchase merchandise inventory for cash of $2.000 6 Returned $700 of inventory from September 3 purchase. 8 Sold merchandise inventory to Hilton Company. $6,400, on account. Terms 3/15. n/35. Cost of goods. $2.560. 9 Purchased merchandise inventory on account from Tarin Wholesalers. $9.500. Terms 2/10, n/30, FOB destination. 10 Made payment to Shield Wholesalers for goods purchased on September 3. less return and discount. 12 Received payment from Hilton Company, less discount. 13 After negotiations, received a $400 allowance from Tarin Wholesalers. 15 Sold merchandise inventory to Jeeves Company. $2.900, on account. Terms n/EOM. Cost of goods, $1,218. 22 Made payment, less allowance, to Tarin Wholesalers for goods purchased on September 9. 23 Jeeves Company returned $500 of the merchandise sold on September 15. Cost of goods. $210. 25 Sold merchandise inventory to Shelton for $2.100 on account that cost $819 Terms of 1/10,n/30 was offered, FOB shipping point. As a courtesy to Shelton, $70 of freight was added to the invoice for which cash was paid by Oceanic. 29 Received payment from Shelton, less discount. 30 Received payment from Jeeves Company, less return. Sep. 29: Received payment from Shelton, less discount. Date Accounts Debit Credit Sep. 29 Sep. 30: Received payment from Jeeves Company, less return. Date Accounts Debit Credit Print Done Sep. 30: Received payment from Jeeves Company, less return. Date Accounts Debit Credit of goods. $210 25 Sold merchandise inventory to Shelton for $2.100 on account that cost $819. Terms of 1/10,n/30 was offered, FOB shipping point. As a courtesy to Shelton $70 of freight was added to the invoice for which cash was paid by Oceanic. 29 Received payment from Shelton, less discount. 30 Received payment from Jeeves Company, less return. Sep 30 Print Done Choose from any list or enter any number in the input fields and then continue to the next