Problem 8.2A (Static) Recording purchases, purchase returns, purchases discounts, and cash payments for a merchandising firm. LO 8-1 High Country Ski Shop is a retail store that sells ski equipment and clothing High Country Ski Shop commenced business on September 1, 20xi . The firm purchases merchandise on open account. The firm's purchases, purchase returns and allowances, and cash payments on account during September 20x1 follow DATE TRANSACTIONS 20x1 Sept. 2 Purchased ski boots for $7,600 plus a freight charge of $310 from Colorado Ski Shop, Invoice 6672, terms n/30. 3 Purchased skis for $13, 2ee from Black Ice Supply Company, Invoice 5916; terns 3/10, n/30. 7 Received Credit Memorandum 165 for $1,100 from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September 2 on Invoice 6672. 11 Purchased ski jackets for $4, eee from Cold Mountain Clothing Company, Invoice 4091, terms n/30. 12 Issued Check 184 to Black Ice Supply Company in payment of Invoice 5916, dated September 3, less the cash discount. 22 Purchased ski poles for $5,760 plus a freight charge of $170 from Black Ice Supply Company, Invoice 5950; terms 3/10, n/30. 23 Purchased ski pants for $3,200 from White Fire Ski Goods, Invoice 528, terms n/30. 25 Received Credit Memorandum 245 for $320 from White Fire Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528. 27 Purchased ski sweaters for $3,750 plus a freight charge of $2ee from Colorado Ski Shop. Invoice 6722, terms n/30. 30 Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7. Required: Record the transactions in a general journal. 1 Purchased ski boots for $7,600 plus a freight charge of $310 from Colorado Ski Shop, Invoice 6672, terms n/30. orac 2 Purchased skis for $13,200 from Black Ice Supply Company, Invoice 5916; terms 3/10, n/30. 3 Received Credit Memorandum 165 for $1,100 from Colorado Ski Shop for return of damaged ski boots; the boots were originally purchased September 2 on Invoice 6672. BIT Purchased ski jackets for $4,000 from Cold Mountain Clothing Company, Invoice 4091, terms n/30. 5 Issued Check 104 to Black Ice Supply Company in payment of Invoice 5916, dated September 3, less the cash discount. Purchased ski poles for $5,760 plus a freight charge of $170 from Black Ice Supply Company, Invoice 5950; terms 3/10, n/30. Purchased ski pants for $3,200 from White Fire Ski Goods, Invoice 528, terms n/30. 8 Received Credit Memorandum 245 for $320 from White Fire Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528. Goods, Invoice 528, terms n/30. 8 Received Credit Memorandum 245 for $320 from White Fire Ski Goods for return of defective ski pants; the pants were originally purchased September 23 on Invoice 528. Purchased ski sweaters for $3,750 plus a freight charge of $200 from Colorado Ski Shop, Invoice 6722, terms n/30. B 10 Issued Check 110 to Colorado Ski Shop in payment of Invoice 6672, dated September 2, less the return of September 7
