On November 4, 2018, Cook Company sold merchandise inventory on account to Tram Wholesalers, $12,500, that cost $5,700. Terms 4/10,n/30. On November 5, 2018, Tram Wholesalers paid shipping of $55. Tram Wholesalers paid the balance to Cook Company on November 13, 2018. (Assume both companies use a perpetual inventory system and that sales are recorded at the netamount.)

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Requirement 1. Journalize Tram Wholesaler's November transactions. (Record debitsfirst, then credits. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do notabbreviate.)

Nov. 4: Purchased merchandise inventory on account from Cook Company for $12,500, terms 4/10,n/30.

On November 4, 2018, Cook Company sold merchandise inventory on account to Tram Wholesalers, $12,500, that cost $5,700. Terms 4 / 10, n / 30. On November 5, 2018, Tram Wholesalers paid shipping of $55. Tram Wholesalers paid the balance to Cook Company on November 13, 2018. (Assume both companies use a perpetual inventory system and that sales are recorded at the net amount.) Read the requirements. Requirement 1. Journalize Tram Wholesaler's November transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table. Check your spelling carefully and do not abbreviate.) Nov. 4: Purchased merchandise inventory on account from Cook Company for $12,500, terms 4 / 10, n / 30. Date Accounts Debit Credit Nov. 4 i Requirements - X 1. Journalize Tram Wholesaler's November transactions. 2. Journalize Cook Company's November transactions. Print Done Choose from any list or enter any number in the input fields and then click Check