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please show all work and equations Journalize the following transactions that occurred in March for Daley Company. Assume Daley uses the periodic inventory system. No
please show all work and equations
Journalize the following transactions that occurred in March for Daley Company. Assume Daley uses the periodic inventory system. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Daley estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount. Round all amounts to the nearest whole dollar.) i (Click the icon to view the transactions.) Mar. 3: Purchased merchandise inventory on account from Sharp Wholesalers, $6,400. Terms 3/15, n/EOM, FOB shipping point. Date Accounts Debit Credit Mar. 3 Mar. 3 Mar. 4 Mar. 4 Mar. 6 Mar. 8 Mar. 9 Mar. 10 Mar. 12 Mar. 13 Mar. 15 Mar. 22 Mar. 23 Mar. 25 Purchased merchandise inventory on account from Sharp Wholesalers, $6,400. Terms 3/15, n/EOM, FOB shipping point. Paid freight bill of $45 on March 3 purchase. Purchase merchandise inventory for cash of $2,000. Returned $700 of inventory from March 3 purchase. Sold merchandise inventory to Hollingshead Company, $3,800, on account. Terms 1/15, n/35. Purchased merchandise inventory on account from Tamara Wholesalers, $5,300. Terms 3/10, n/30, FOB destination. Made payment to Sharp Wholesalers for goods purchased on March 3, less return and discount. Received payment from Hollingshead Company, less discount. After negotiations, received a $300 allowance from Tamara Wholesalers. Sold merchandise inventory to Jarvis Company, $1,900, on account. Terms n/EOM. Made payment, less allowance, to Tamara Wholesalers for goods purchased on March 9. Jarvis Company returned $600 of the merchandise sold on March 15. Sold merchandise inventory to Smede for $700 on account. Terms of 2/10, n/30 was offered, FOB shipping point. Mar. 25 Mar. 29 Mar. 30 Sold merchandise inventory to Smede for $700 on account. Terms of 2/10, n/30 was offered, FOB shipping point. Received payment from Smede, less discount. Received payment from Jarvis Company, less returnStep by Step Solution
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