Prepare an Excel spreadsheet of the journal entries for the first part of August 2014 for the Pit Bull Sings T-shirt Distributors, based on the following information:

Assignment Template attached below

AUG 1 ? Purchased merchandise from Aerotek Company for $7,500 under credit terms of 1/10, n/30, FOB destination; invoice dated August 1.

AUG 4 ? At Aerotek?s request, Pit Bull Sings paid $200 cash for freight charges on the August 1 purchase, reducing the amount owed to Aerotek.

AUG 5 ? Sold merchandise to Laird Corp. for $5,200 under credit terms of 2/10, n/60; invoice dated August 5. The merchandise had a cost of $4,000.

AUG 8 ? Paid Aerotek for purchase on August 1 within the discount period.

AUG 9 ? Received payment from Laird for sale on August 4 within the discount period.

Instructions:

Complete this assignment using an Excel spreadsheet, and date and explain each entry on your deliverable.

Pit Bull Sings T-Shirt Retailers. Merchandising activities during the month of August Option #2- Template Q1: Date Account Title 1-Aug Merchandise Inventory (T-shirts) Accounts Payable to Arotek Q2: 4-Aug Merchandise Inventory Cash Q3: 5-Aug Accounts Receivable T-Shirt Sales COGS Merchandise Inventory Q4: 8-Aug Accounts Payable Merchandise Inventory (T-shirts) Cash Q5: 8-Sep Cash Sales Discount Account Receivable Debit Credit