Merchandising Journal Entries

July 2 Purchased 1500 Gizmos from T Co. @ $3 ea for cash July 5 July 7 July 9 July 11 July 12 July 15 July 17 July 19 July 20 July 21 July 23 July 25 July 29 Purchased 2000 Gizmos from Z Co @ $3 ea (1/10,n/30) FOB Shipping Point $500 Received merchandise from Z Co. Paid $500 freight Returned 250 Gizmos to T Co. Refund to be received in two weeks Sold 1000 Gizmos to H Co. @ $6 ga (2/10,n/30) (cost $3 ea) FOB Destination $300 Paid freight on sale to H Co. $300 Paid 2 Co. for purchase of July 5 within the discount period Received return of 100 widgets from sale to H Co. (sold @ $6 ga, cost @ $3 ga) Purchased 500 Gizmos @ $3 ga from B Co, (2/10,n/30) Purchased $400 of supplies for cash Collect from H Co. within the discount period (less return on July 17) Returned 150 Gizmos to B Co. purchase on July 19 (cost $3 ga) Received refund from T Co. for merchandise returned on July 9 Paid 8 Co. within the discount period (less return on July 23) had 12 2 3 4 5 6 7 80 9 10 11 12 13 14 15 16 17 18 19 20 21 32 22 23 24 25 26 4 Date Sheet1 Account Titles & Explanation Sheet4 Sheet2 GENERAL JOURNAL Sheet3 Ref. Debit Page 1 Credit