Medical Supplies Inc.is a medical supplies who opened a business selling medical supplies/products. The company imports products from around the world and sells to local business in Canada. A On October 1, purchased $2,500 of hand sanitizer from Pure Medical Products Inc.; terms 3/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $250. On October 5, sold Masks costing $1,080 to Bay Company for a price of $1,600 with terms of 2/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $95. On October 7, returned $450 of inventory to Pure Medical Products Inc. due to an error in the October B c 1 order. D On October 10, paid Pure Medical Products Inc. for the purchase on October 1. On October 14, Bay Company returned $320 of inventory from the sale on October 5. The inventory had a cost of $125. F G On October 22, received the payment from Bay & Co. on the October 5 sale. On October 23, purchased $ 2,200 of Oxygen Meter from Oxygen Trading; terms 2/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $350. On October 25, paid wages and salaries to staff amounting to $5,000. On October 26, received cheque from Canada Revenue Agency for Wage Subsidy amounting to $2,500. On October 31, received the payment of $40,000 as Loan from Govt of Canada under Canada Emergency Business Account H I J Required: 1. Record the journal entries for the month of October. Medical Supplies Inc.is a medical supplies who opened a business selling medical supplies/products. The company imports products from around the world and sells to local business in Canada. A On October 1, purchased $2,500 of hand sanitizer from Pure Medical Products Inc.; terms 3/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $250. On October 5, sold Masks costing $1,080 to Bay Company for a price of $1,600 with terms of 2/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $95. On October 7, returned $450 of inventory to Pure Medical Products Inc. due to an error in the October B c 1 order. D On October 10, paid Pure Medical Products Inc. for the purchase on October 1. On October 14, Bay Company returned $320 of inventory from the sale on October 5. The inventory had a cost of $125. F G On October 22, received the payment from Bay & Co. on the October 5 sale. On October 23, purchased $ 2,200 of Oxygen Meter from Oxygen Trading; terms 2/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $350. On October 25, paid wages and salaries to staff amounting to $5,000. On October 26, received cheque from Canada Revenue Agency for Wage Subsidy amounting to $2,500. On October 31, received the payment of $40,000 as Loan from Govt of Canada under Canada Emergency Business Account H I J Required: 1. Record the journal entries for the month of October
