May 1. Marvel Comics Company sold merchandise on account to Comic Center Company,

$87,500, terms FOB destination, 3/15, n/30. The cost of the goods sold was $43,750.

5. Marvel Comics Company sold merchandise on account to Comic Center Company, $76,350, terms FOB shipping point, 2/15, n/30. Marvel paid freight of $2,400 and added it to the invoice. The cost of the goods sold was $38,175.

6. Marvel Comics Company paid freight of $3,080 for delivery of merchandise sold to

Comic Center Company on May 1.

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7. Marvel Comics Company sold merchandise on account to Comic Center Company, $92,400, terms FOB shipping point, 2/10, n/30. The cost of goods sold was $46,200.

8. Comic Center Company paid freight of $3,975 on May 7 purchase from Marvel Comics

Company.

9. Marvel Comics Company issued Comic Center Company a credit memo for merchandise with an invoice amount of $8,500 returned from sale on May 1. The cost of the merchandise returned was $4,250.

10. Comic Center Company paid Marvel Comics Company for purchase of May 7.

11. Comic Center Company paid Marvel Comics Company for purchase of May 1, less return of May 9.

20. Comic Center Company paid Marvel Comics Company for purchase of May 5.

28. Marvel Comics Company paid Comic Center Company a cash refund of 2,900 for damaged merchandise in the May 7 sale. Comic Center Company kept the merchandise.

Instructions:

Journalize the May transactions for (1) Marvel Comics Company and (2) Comic Center

Company.