Prepare General Journal entries to record the following periodic system merchandising transactions for Safety Merchandising. Use separate account for each receivable and payable: (Round your answers to the 2 decimal places.) October 1 Purchased merchandise from Zeon Company on credit, terms 1/10, n/30, 16,000. 2 Sold merchandise for cash, $2,200. 7 Purchased merchandise on credit from Billings Co., terme 1/10, 1/30, $11, 800, FOB the seller's factory. 7 Paid $470 cash for freight charges on the merchandise shipment of the previous transaction. 8 Purchased delivery equipment from Finlay Supplies on credit, $26, 000. 12 Sold merchandise on credit to Comey Holdings, terma 3/15, 2/30, 1/60, $6,000. 13 Received a $1,600 credit memo for merchandise purchased on October 7 and returned for credit. 13 Purchased office supplies on credit from Staples, S640, 1/30. 15 Sold merchandise on credit to Tom Willis, terme 1/10, 1/30, n/60, $4,750. 15 Paid for the merchandise purchased on October 7. 16 Received a credit memo for unsatisfactory office supplies purchased on October 13 and returned, $110. 19 Iasued a $440 credit memo to the customer who purchased merchandise on October 15 and returned a portio for credit. 25 Received payment for the merchandise sold on October 15. 29 The customer of October 12 paid for the purchase of that date. 31 Paid for the merchandise purchased on October 1. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 8 REE 15 Record the purchase of merchandise from Zeon Company for $16,000 on credit. View transaction list EX: 1 Record the purchase of merchandise from Zeon Company for $16,000 on credit. 15 2 Record the sales of merchandise for $2,200 cash. on 3 Record the purchase of merchandise from Billings Co., for $11,800 on credit. 4 Record the freight charges paid of $470 cash. Credit 5 Record the purchase of delivery equipment from Finlay Supplies for $26,000 on credit. 6 Record the sales of merchandise to Comry Holdings for $6,000 on credit. Note : = journal entry has been entered 31 Paid for the merchandise purchased on October 1. View transaction list 15 7. Record the receipt of a credit memo of $1,600 for merchandise purchased on October 7. 1 on B Record the purchase of office supplies from Staples for $640 on credit. 9 Record the sales of merchandise to Tom Willis for $4,750 on credit. Credit 10 Record the payment for the merchandise purchased on October 7. 11 Record the receipt of a credit memo for $110 for unsatisfactory office supplies purchased on October 13. Note: journal entry has been entered Record entry Clear entry View general journal View transaction list KHME 15 11 Record the receipt of a credit memo for $110 for unsatisfactory office supplies purchased on October 13. ) on 12 Record the issue of a credit memo for $440 to Tom Willis for merchandise purchased on October 15. 13 Record the receipt of payment for the merchandise sold on October 15. Credit 14 Record the receipt of payment for the merchandise sold on October 12. 15 Record the payment for the merchandise purchased on October 1. Note: = journal entry has been entered ce General Journal entries to record the following periodic system merchandising transactions for Safety Merchandising. Use a ate account for each receivable and payable: (Round your answers to the 2 decimal places.) Purchased merchandise from Zeon Company on credit, terms 1/10, n/30, $16,000. Sold merchandise for cash, $2,200 Purchased merchandise on credit from Billings Co., terms 1/10, 1/30, $11,800, FOB the seller's factory. Paid $470 cash for freight charges on the merchandise shipment of the previous transaction. Bi Parchased delivery equipment from Finlay Supplies on credit, $26,000. 12 | Sold merchandise on credit to Comry Holdings, terms 3/15, 2/30, n/60, $6,000. 13 Received a $1,600 credit memo for merchandise purchased on October 7 and returned for credit. 13 | Purchased office supplies on credit from Staples, $640, 1/30. 15 Sold merchandise on credit to Tom Willis, terms A/10, 1/30, n/60, $4,750. 15 Paid for the merchandise purchased on October 7. 16 Received a credit nema fox unsatisfactory office supplies purchased on October 13 and returned, $110. 19 Issued a $440 credit memo to the customer who purchased merchandise on October 15 and returned a portion for credit 25 Received payment for the merchandise sold on October 15. 29 The customer of October 12 paid for the purchase of that date. 3 | Paid for the merchandise purchased on October 1
