perpetual system or a periodic system. mascary Songs to the choy beste ots200 per day , melding one day natation to the tour end 1. Prepare journal entries to record each of the following transactions for Echo Systems, assuming Completed five-day project for Alamo Engineering Co. and billed them $9,000, which is the total price of $12.00 Sold merchandise with a retail value of $8,400 and a cost of $6,720 to Ente Corpo.stion with terms of 110.30 Required 2021 Jan 4 from the prior year 5 Mary Graham invested an additional $48.000 cash in the business 7 Purchased $11.200 of merchandise trom Shephard Corp. with terms of 1/10, 1/30. FOB shipping Daire 9 Received $3.000 from Fostek Co. as final payment on its account. 11 less the advance payment of $3.000. 13 FOB shipping point 15 Paid $1,400 for freight charges on the merchandise purchased on January 7 16 Received $6,000 cash from Grandview Co, for computer services 17 Paid Shephard Corp. for the purchase on January 7. 20 Elite Corporation returned $800 of defective merchandise from its purchase on January 13. The returned merchandise, which had a cost of $640, was scrapped. 22 Received the balance due from Elite Corporation 24 Returned defective merchandise to Shephard Corp. and accepted credit against future purchases. Its cost, net et the discount, was $792 26 Purchased $16,000 of merchandise from Shephard Corp. with terms of 1/10, 1/30, FOB destination. 26 Sold merchandise with a cost of $9.280 for $11,600 on credit to Hacienda Inc. 29 Received a $792 credit memo from Shephard Corp. concerning the merchandise returned on January 24. 31 Paid Carly Smith for 10 days' work at $200 per day. Feb. 1 Paid $6.750 to the Lakeshore Mall for another three months' rent in advance. 3 Paid Shephard Corp. for the balance due. 5 Paid $1,600 to the local newspaper for advertising. 11 Received the balance due from Alamo Engineering Co. for revenue billed on January 11. 15 Mary Graham withdrew $9.600 cash for personal use. 23 Sold merchandise with a cost of $5,120 for $6,400 on credit to Grandview Co.: terms 1/10,n30. 26 Paid Carly Smith for eight days' work at $200 per day. 27 Reimbursed Mary Graham's business automobile expenses for 600 km at $1.00 per kilometre. e. The count er lo Mar 8 Purchased $4.800 of computer supplies from Abbott Office Products on credit. 9 Received the balance due from Grandview Co for merchandise sold on February 23. 11 Repaired the company's computer paying cash of $1,720. 16 Received $8,520 cash from Images Inc. for computing services 19 Paid the full amount due to Abbott Office Products, including amounts created on December 17 and March 8. 24 Billed Capital Leasing for $11,800 of computing services. 25 Sold merchandise with a cost of $2,004 for $3,600 on credit to Buckman Services 30 Sold merchandise with a cost of $2.200 for $4,440 on credit to Decker Company 31 Reimbursed Mary Graham's business automobile expenses for 400 km at $1.00 per kilometre
