More Info Sep 4 B 9 3 Purchased merchandise inventory on account from Simmon Wholesalers, $6,000. Terms 3/15, VEOM, FOB shipping point Pald freight bill of $90 on September 3 purchase. 4 Purchase merchandise inventory for cash of $2,200. 6 Returned $1,100 of inventory from September 3 purchase Sold merchandise inventory to Hayes Company, $5,400, on account. Terms 215, n/35. Cost of goods, $2,322. Purchased merchandise inventory on account from Tripp Wholesalers, $10,000 Terms 2/10, 1/30, FOB destination 10 Made payment to Simmon Wholesalers for goods purchased on September 3, less return and discount 12 Received payment from Hayes Company, less discount 13 After negotiations, received a $100 allowance from Tripp Wholesalers. 15 Sold merchandise inventory to Jordon Company, $2,700, on account. Terms n/EOM. Cost of goods, $1,080, 22 Made payment, less allowance, to Tripp Wholesalers for goods purchased on September 9 23 Jordon Company returned $300 of the merchandise sold on September 15. Cost of goods, $120. 25 Sold merchandise inventory to Shelton for $1,400 on account that cost $588 Torms of 1/10, 1/30 was offered, FOB shipping point. As a courtesy to Shelton, $66 of freight was added to the involce for which cash was paid by Orange Glove 29 Received payment from Shelton, less discount 30 Received payment from Jordon Company, less return Print Done Journalize the following transactions that occurred in September 2018 for Orange Glove, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Orange Glove estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount.) Click the icon to view the transactions.) Sep. 3. Purchased merchandise inventory on account from Simmon Wholesalers, 56,000. Terms 3/15, VEOM, FOB shipping point Date Accounts Debit Credit Sep 3