Prepare general journal entries to record the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, record the purchase July 1 in Accounts Payable-Jones Company. Do the analysis component. July 1 Purchased merchandise from Jones Company for $14,800 under credit terms of 1/15, n/30, FOB factory. Sold merchandise to Terra Co. for $2,600 under credit terms of 2/10, n/60, FOB shipping point. The merchandise had cost $1,950. 2 Paid $450 for freight charges on the purchase of July 1. Sold merchandise that cost $3,825 for $5,100 cash. 3 8 9 12 12 13 16 Purchased merchandise from Keene Co. for $9.100 under credit terms of 2/15, n/60, FOB destination. Received a $1,500 credit memo acknowledging the return of merchandise purchased on July 9. Received the balance due from Terra Co. for the credit sale dated July 2. Purchased office supplies from EastCo on credit, $960, n/30. Paid the balance due to Jones Company. 19 Sold merchandise that cost $2,850 to Urban Co. for $3,800 under credit terms of 2/15, n/60, FOB shipping point. 21 Issued a $300 credit memo to Urban Co. for an allowance on goods sold on July 19. 22 Received a debit memo from Urban Co. for an error that overstated the total invoice by $200. Paid Keene Co. the balance due. 29 30 Received the balance due from Urban Co. for the credit sale dated July 19. 31 Sold merchandise that cost $7,500 to Terra Co. for $10,000 under credit terms of 2/10, 1/60, FOB shipping point.

Prepare general journal entries to record the following perpetual system merchandising transactions of Belton Company. Use a separate account for each receivable and payable; for example, recond the purchase July I in Acoounts Payable-Jones Company. Do the analysis component. July 1 Purchased merchandise from Jones Company for 314,800 under credit terns of 1/15,30, Foe factory. 2 Sold merchandise to Terra Co. for $2.600 under credt tems of 2/10, N/60, FoB shipping point. The merchandise had cost $1, 950. 3 Paid 5450 for freight charges on the purchase of hly 1. 8 Sold merchandise that cost $3,825 for $5,100cash. a Purchased merchandise from Keene Co. for 59.100 under creor terms of 2/15, w/60, Foe destination. 12 Recelved a $1,500 creot memo acknowledging the retum of merchandise purchased an Jly 9 . 12 Peceived the balance due from Terra Ce. for the credt sale dated Jly 2. 13 Purchased office supplies from EastCo on credit, 5960,N/30. 16 Paid the balance due to Jones Company. 19 Sold merchandise that cost $2.850 to Uitan Ca. for $3.800 under credt tems of 2/15, N60, FOe shipping point. 21 Issued a $300 credit memo to Uben Ca, for an allowance on goods sold on luly 19. 22 Received a debit memo from Urban Co. for an error that overstated the total invoice by 5200 . 29 Paid Keene Co, the baiance due. 30 Received the bolance due from Uiban Co, for the credit sale dated Jly 19. 31. Sold merchandise that cost $7,500 to Terra Co, for $10,000 under credt terms of 2/10,60, Foe shipping point