On

OctoberOctober

?15,

20162016?,

MartinMartin?'s

Department Store purchased

$ 7 comma 100$7,100

of inventory on account from one of its suppliers. Terms were

55?/15,

?n/45, FOB shipping point. On

OctoberOctober

?17,

MartinMartin?'s

Department Store paid freight charges of

$ 275$275

related to the delivery of the goods purchased on

OctoberOctober

15. Upon receiving the? goods,

MartinMartin?'s

Department Store checked the order and found

$ 1 comma 400$1,400

of unsuitable? merchandise, which was returned to the supplier on

OctoberOctober

21.?Then, on

OctoberOctober

?29,

MartinMartin?'s

Department Store paid the invoice.

Requirement

1.	Journalize all necessary transactions for MartinMartin?'s Department Store. Omit explanations. ?(Record debits? first, then credits. Exclude explanations from any journal? entries.)

Start by journalizing the

OctoberOctober

?15,

20162016

purchase of inventory on account.

Journal Entry
Date		Accounts	Debit	Credit
Oct	15

?Next, journalize the payment of freight charges on

OctoberOctober

?17,

20162016.

Journal Entry
Date		Accounts	Debit	Credit
Oct	17

Now journalize the return of unsuitable merchandise on

OctoberOctober

?21,

20162016.

Journal Entry
Date		Accounts	Debit	Credit
Oct	21

?Finally, journalize the payment on

OctoberOctober

?29,

20162016.

Journal Entry
Date		Accounts	Debit	Credit
Oct	29