Part 1.

instruction:

Journalize the following Transactions completely for the year 2021.

Make the T Account.

Please use the perpetual method.

6/1- Purchased merchandised on credit for 12,600, terms 1/20, n/30.

6/4- Sold merchandise on account for 5,000 terms 3/10,n/30. Cost of Sales 2,500.

6/10- Received payment for merchandise sold on 6/4.

6/12- Returned goods worth 500 on merchandise purchased on 6/1.

6/17- Paid freight charges of 200 for merchandise ordered last month( fob shipping point).

6/20- Sold merchandise on for cash for 7,000. Cost of goods sold 3,500.

Part 2.

instruction:

Journalize the following Transactions completely for the year 2021.

Make the T Account.

Please use the periodic method.

6/1- Purchased merchandised on credit for 12,600, terms 1/20, n/30.

6/4- Sold merchandise on account for 5,000 terms 3/10,n/30. Cost of Sales 2,500.

6/10- Received payment for merchandise sold on 6/4.

6/12- Returned goods worth 500 on merchandise purchased on 6/1.

6/17- Paid freight charges of 200 for merchandise ordered last month( fob shipping point).

6/20- Sold merchandise on for cash for 7,000. Cost of goods sold 3,500.

Please see the attached photos for the guide

For perpetual

Chart of Accounts (Periodic) Code Account Titles Code Account Titles 101 Cash 401 Sales 102 Accounts Receivables 402 Sales Discounts 103 Merchandise Inventory 403 Sales Returns and Allowances 104 Office Supplies 501 Purchases 105 Prepaid Insurance 502 Purchase Discounts 110 Building 503 Purchase Returns and Allowances 111 Accumulated Depreciation - Building 504 Transportation in 121 Equipment 601 Cost of Goods Sold 121 Accumulated Depreciation - Equipment 602 Salaries Expenses 201 Accounts Payable 803 Supplies Expense 202 Notes Payable 604 nsurance Expense 203 Salaries Payable 805 Depreciation Expense - Building 204 Utilities Payable Depreciation Expense - Equipment 205 hterest Payable 607 Transportation Out 206 Unearned Revenue 608 Advertising Expense 301 ABM Capital Interest Expense 302 ABM Drawing 610 Utilities Expense 303 Income Summary 811 Rent ExpenseChart of Accounts for Journal Entries (Perpetual) Code Account Titles Code Account Titles 101 Cash 401 Sales 102 Accounts Receivables 402 Sales Discounts 103 Merchandise Inventory 403 Sales Returns and Allowances 104 Office Supplies 501 Cost of Goods Sold 105 Prepaid Insurance 502 Salaries Expenses 110 Building 503 Supplies Expense 111 Accumulated Depreciation - Building 504 Insurance Expense 121 Office Equipment 505 Depreciation Expense - Building 122 Accumulated Depreciation - Equipment 508 Depreciation Expense - Equipment 201 Accounts Payable 507 Transportation Out 202 Notes Payable 509 Advertising Expense 203 Salaries Payable 500 Interest Expense 204 Utilities Payable 510 Utilities Expense 205 Interest Payable 511 Rent Expense 208 unearned revenues 512 Miscellaneous Expense 301 ABM Capital 302 ABM Drawings 303 Income Summary