July 1 Purchased 50 suitcases on account for $54 each from Trunk Manufacturers, terms n/30, FOB destination 2 The correct company paid $140 freight on the July 1 purchase. 4 Received $270 credit for five suitcases returned to Trunk Manufacturers because they were damaged. 10 Sold 45 suitcases that cost $54 each to Satchel World for $55 each on account 12 Issued a $275 credit for five suitcases returned by Satchel World because they were the wrong colour. The suitcases were returned to inventory 15 Purchased 60 additional suitcases from Trunk Manufacturers for $51.50 each, terms /30, FOB shipping point. 18 Paid $150 freight to AA Trucking Company for merchandise purchased from Trunk Manufacturers. 21 Sold 54 suitcases that cost $54 each to Fly-ByNight for $55 each on account. 23 Gave Fly-By-Night a $110 credit for two returned suitcases. The suitcases had been damaged and were sent to the recyclers. 30 Paid Trunk Manufacturers for the July 1 purchase. 31 Received balance owing from Satchel World Record the July transactions for Concord Warehouse. Assume that Concord uses the earnings approach. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Date Debit Credit Account Titles and Explanation Merchandise Inventory July 1 v 2700 Accounts Payable 2700 (Purchase on account.) July 2 V no entry e A 40) ENG 11:51 PM 2020-06-29 U Maps OIL Credit $35,000 BRAMBLE ENTERPRISES Trial Balance December 31, 2021 Debit Cash $15,000 Accounts receivable 19,200 Merchandise inventory 37,050 Prepaid insurance 3,000 Supplies 2,950 Equipment 150,000 Accumulated depreciation-equipment Furniture 45,000 Accumulated depreciation-furniture Accounts payable Unearned revenue Mortgage payable S. Kim, capital S. Kim, drawings 48,000 Sales Sales returns and allowances 2,500 Sales discounts 3,275 Cost of goods sold 153,000 Interest expense 6,875 Salaries expense 35,450 18,000 33,200 4,000 125,000 46,200 265,000