P-F:5-40A Journalizing purchase and sale transactions Journalize the following transactions that occurred in November for Sunshine Adventure Park. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Nov. 4 6 8 10 11 12 13 14 16 17 Purchased merchandise inventory on account from Valley Company, $8,000. Terms 1/10, n/EOM, FOB shipping point. Paid freight bill of $160 on November 4 purchase. Returned half the inventory purchased on November 4 from Valley Company. Sold merchandise inventory for cash, $1,700. Cost of goods, $680. FOB destination. 18 Sold merchandise inventory to Gunnison Corporation, $10,300, on account, terms of 3/10, n/EOM. Cost of goods, $5,150. FOB shipping point. Paid freight bill of $30 on November 10 sale. Sold merchandise inventory to California Company, $9,000, on account, terms of 1/15, n/45. Cost of goods, $4,500. FOB shipping point. Paid the amount owed on account from November 4, less return and discount. After negotiations, granted a $200 allowance to Gunnison Corporation on November 11 sale. Received defective inventory as a sales return from the November 13 sale, $400. Cost of goods, $200. Purchased inventory of $3,700 on account from Rainbow Corporation. Payment terms were 2/10, n/30, FOB destination. 20 26 Received cash from Gunnison Corporation, less allowance and discount. Paid amount owed on account from November 18, less discount. 28 Received cash from California Company, less return and discount. Purchased inventory from Silver Corporation for cash, $12,000, FOB shipping point. Freight in paid to shipping company, $200. 29

-F:5-40A Journalizing purchase and sale transactions Journalize the following transactions that occurred in November for Sunshine Adventure Park. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Nov. 4 Purchased merchandise inventory on account from Valley Company, $8,000. Terms 1/10,n/EOM,FOB shipping point. 6 Paid freight bill of $160 on November 4 purchase. 8 Returned half the inventory purchased on November 4 from Valley Company. 10 Sold merchandise inventory for cash, $1,700. Cost of goods, $680. FOB destination. 11 Sold merchandise inventory to Gunnison Corporation, $10,300, on account, terms of 3/10,n/EOM. Cost of goods, $5,150. FOB shipping point. 12 Paid freight bill of $30 on November 10 sale. 13 Sold merchandise inventory to California Company, $9,000, on account, terms of 1/15,n/45. Cost of goods, $4,500. FOB shipping point. 14 Paid the amount owed on account from November 4 , less return and discount. 16 After negotiations, granted a $200 allowance to Gunnison Corporation on November 11 sale. 17 Received defective inventory as a sales return from the November 13 sale, $400. Cost of goods, $200. 18 Purchased inventory of $3,700 on account from Rainbow Corporation. Payment terms were 2/10,n/30,FOB destination. 20 Received cash from Gunnison Corporation, less allowance and discount. 26 Paid amount owed on account from November 18, less discount. 28 Received cash from California Company, less return and discount. 29 Purchased inventory from Silver Corporation for cash, $12,000, FOB shipping point. Freight in paid to shipping company, $200