More info Sold merchandise inventory to Herenda Company, $6,300, on account. Terms 3/15, n/35. Cost of goods, $3,024. Sep. 3 Sep. 4 Sep. 4 Purchased merchandise inventory on account from Sheldon Wholesalers, $7,000. Terms 3/15, n/EOM, FOB shipping point. Paid freight bill of $80 on September 3 purchase. Purchase merchandise inventory for cash of $1,500. Sep. 6 Returned $500 of inventory from September 3 purchase. Sep. & Sep. 9 Sep. 10 Sep. 12 Sep. 13 Sep. 15 Sep. 22 Sep. 25 Sep. 29 Sep. 30 Purchased merchandise inventory on account from Tucker Wholesalers, $6,500. Terms 1/10, n/30, FOB destination. Made payment to Sheldon Wholesalers for goods purchased on September 3, less return and discount. Received payment from Herenda Company, less discount. After negotiations, received a $200 allowance from Tucker Wholesalers. Sold merchandise inventory to Jeeves Company, $2,800, on account. Terms n/EOM. Cost of goods, $1,148. Made payment, less allowance, to Tucker Wholesalers for goods purchased on September 9. Sold merchandise inventory to Small for $1,300 on account that cost $481. Terms of 2/10, n/30 was offered, FOB shipping point. As a courtesy to Small, $70 of freight was added to the invoice for which cash was paid by Aquamarines. Received payment from Small, less discount. Received payment from Jeeves Company. Print Done Jourhalize the following transactions that occurred in September for Aquamarines, assuming the perpetual inventory system is being used. No explanations are needed Idgtify each accounts payable and accounts receivable with the vendor or customer name. Aquamarines estimates sales returns at the end of each month. (Record debits first, then credits Exclude explanations from journal entries Check your spelling carefully and do not abbreviate. Assume the company records sales at the net amount) Click the icon to view the transactions) Sep. 3. Purchased merchandise inventory on account from Sheldon Wholesalers, $7,000 Terms 3/15, n/SOM, FOB shipping point Date Sep. 3 Accounts Sep. 4: Paid freight bill of $80 on September 3 purchase Date Sep 4 Accounts Sep 4: Purchase merchandise inventory for cash of $1,500 Date Sep 4 Accounts Debit Credit Debit Credit Debit Credit