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Prepare General Journal entries to record the following periodic system merchandising transactions for Safety Merchandising. Use a separate account for each receivable and payable: (Round
Prepare General Journal entries to record the following periodic system merchandising transactions for Safety Merchandising. Use a 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, $15,200. 2 Sold merchandise for cash, $1,800. 7 Purchased merchandise on credit from Billings Co., terms 2/10, n/30, $11,000, FOB the seller's factory. 7 Paid $390 cash for freight charges on the merchandise shipment of the previous transaction. 8 Purchased delivery equipment from Finlay Supplies on credit, $18,000. 12 Sold merchandise on credit to Comry Holdings, terms 2/15, 1/30, n/60, $5,200. 13 Received a $1,200 credit memo for merchandise purchased on October 7 and returned for credit. 13 Purchased office supplies on credit from Staples, $560, n/30. 15 Sold merchandise on credit to Tom Willis, terms 1/10, 1/30, n/60, $4,350. 15 Paid for the merchandise purchased on October 7. 16 Received a credit memo for unsatisfactory office supplies purchased on October 13 and returned, $130. 19 Issued a $360 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. 31 Paid for the merchandise purchased on October 1. View transaction list Journal entry worksheet Record the purchase of merchandise from Zeon Company for $15,200 on credit. Note: Enter debits before credits. Date General Journal Debit Credit October 01 Record entry Clear entry View general journal
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