July 1. Sold merchandise on account to Landscapes Co., $14,800, terms FOB shipping point, /eom. The cost of merchandise sold was $8,900. 2. Sold merchandise for $27,800 plus 7% sales tax to retail cash customers. The cost of merchandise sold was $18,100. 5. Sold merchandise on account to Peacock Company, $36,900, terms FOB destination, 2/10, 1/30. The cost of merchandise sold was $24,000. 8. Sold merchandise for $9,000 plus 8% sales tax to retail customers who used VISA cards. The cost of merchandise sold was $5,400. 13. Sold merchandise to customers who used MasterCard cards, $7,000. The cost of merchandise sold was $4,400. 14. Sold merchandise on account to Loeb Co., $10,200, terms FOB shipping point, 1/10, n/30. The cost of merchandise sold was $6,000. 15. Received check for amount due from Peacock Company for sale on July 5. 16. Issued credit memo for $1,500 to Loeb Co. for merchandise returned from sale on July 14. The cost of the merchandise returned was $800. 18. Sold merchandise on account to Jennings Company, $6,400, terms FOB shipping point, 2/10, 1/30. Paid $220 for freight and added it to the invoice. The cost of merchandise sold was $3,800. 24. Received check for amount due from Loeb Co. for sale on July 14 less credit memo of July 16. 28. Received check for amount due from Jennings Company for sale of July 18. 31. Paid Black Lab Delivery Service $2,170 for merchandise delivered during July to customers under shipping terms of FOB destination. 31. Received check for amount due from Landscapes Co. for sale of July 1. Aug. 3. Pald Hays Federal Bank $1,090 for service fees for handling MasterCard and VISA sales during July 10. Paid $3,070 to state sales tax division for taxes owed on sales. Required: eBook Show Me How Calculator Print them Date Account Debit Credit July 1-sale Accounts Recevable-Landscapes Co. 14,800 Sales 14,800 Date Account Debit Credit July Cost of Merchandise Sold 8,900 cost Merchandise Inventory 8,900 Date Account Debit Credit July 2-sale Cash 26,460 X Sales 25,200 X Sales Tax Payable 1,260 Date Account Debit Credit July 2- Cost of Merchandise Sold 16,400 X cost Merchandise Inventory 16,400 x Credit Debit Account Date July 26724 BOOK Show Me How Calculator Print item Account Credit July 5-sale Accounts Receivable-Peacock Company 36,234 Sales 36,234 Date Account Debit Credit July 5- Cost of Merchandise Sold 23,800 23,800 cost Merchandise Inventory 23,800 Date Account Debit Credit July 8-sale Cash 12,720 X Sales 12,000 x Sales Tax Payable 720 Debit Account Credit Date July 7,200 X 8 Cost of Merchandise Sold cost 7,200 X Merchandise Inventory Debit Credit Date Account July Check My Work 3 more Check My Work uses remaining. SAS RK eBook Show Me How Calculator Account Print Item Debut July Cash v 6,500 sale Sales 6,500 X Date Account Debit Credit July 13- Cost of Merchandise Sold 4,100 cost Merchandise Inventory 4,100 X Date Account Debit Credit July 14- Accounts Receivable-Loeb Co. 11,880 sale Sales 11,880 x Debit Account Credit Date July Cost of Merchandise Sold 7,100 X cost 7,100 X Merchandise Inventory Credit Debit Account Date n Check My Work 3 more Check My Work uses remaining Save and Ex Submit Assign All work saved RK eBook Show Me How Calculator Printem July 15 Cash 36,234 Accounts Receivable-Peacock Company 36,234 x Date Account Dabit Credit July Customer Refunds Payable 1,782 return Accounts Receivable-Loeb Co. 1,782 X Date Account Debit Credit July 16- Merchandise Inventory 1,000 x cost Estimated Returns Inventory 1,000 X Debit Account Credit Date July 18- 7,056 X Accounts Receivable-Jennings Company sale 7,056 X Sales Credit Debit Account Date Check My Work 3 more Check My Work uses remaining. Submit A ebook Show Me How Calculator Print item Debit Credit July 18- Accounts Recalvable-Jennings Company 200 freight Cash 200 Date Account Debit Credit July 18- Cost of Merchandise Sold 4,300 cost Merchandise Inventory 4,300 X Date Account Debit Credit July 24 Cash 10,098 X 10,086 Accounts Receivable-Loeb co. 10,098 X Date Account Debit Credit July Cash 7,256 X 28 Accounts Receivable-Jennings Company 7,256 X Account Date Credit Debit July Check My Work 3 more Check My Work uses remaining, Submit Asschmer Save and Exit All work saved. Crown VORK eBook Show Me How Calculator Print Item Account Deb Credit July Delivery Expense 2,180 freight Cash 2,180 x Date Account Debit Credit July 31- collection Cash 16,000 16,600 Accounts Receivable-Landscapes Co. 16,600 X Account Date Credit Debit Aug Credit Card Expense 1,070 3 1,070 X Cash Debit Account Credit Date Aug. 2,280 X Sales Tax Payable 10 2,280 x Cash Chock My Work Journalize these transactions from the seller's perspective using the perpetual inventory system. Discounts are given on the amount owed Check My Work 3 more Check My Work uses remaining
