Purchase-Related Transactions

Journalize entries for the following related transactions of Greenville Heating & Air Company: If an amount box does not require an entry, leave it blank.

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a. Purchased $57,000 of merchandise from Foster Co. on account, terms 2/10, n/30.

blank	Accounts Payable-Foster Co.Accounts Receivable-Foster Co.CashCost of Merchandise SoldMerchandise Inventory	- Select -	- Select -
	Accounts Payable-Foster Co.Accounts Receivable-Foster Co.CashCost of Merchandise SoldMerchandise Inventory	- Select -	- Select -

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b. Paid the amount owed on the invoice within the discount period.

blank	Accounts Payable-Foster Co.Accounts Receivable-Foster Co.CashCost of Merchandise SoldMerchandise Inventory	- Select -	- Select -
	Accounts Payable-Foster Co.Accounts Receivable-Foster Co.CashCost of Merchandise SoldMerchandise Inventory	- Select -	- Select -

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c. Discovered that $11,000 of the merchandise purchased in (a) was defective and returned items, receiving credit for $10,780 [$11,000 ($11,000 2%)].

blank	Accounts Payable-Foster Co.Accounts Receivable-Foster Co.CashCost of Merchandise SoldMerchandise Inventory	- Select -	- Select -
	Accounts Payable-Foster Co.Accounts Receivable-Foster Co.CashCost of Merchandise SoldMerchandise Inventory	- Select -	- Select -

Question Content Area

d. Purchased $6,300 of merchandise from Foster Co. on account, terms n/30.

blank	Accounts Payable-Foster Co.Accounts Receivable-Foster Co.CashMerchandise InventorySales Returns and Allowances	- Select -	- Select -
	Accounts Payable-Foster Co.Accounts Receivable-Foster Co.CashMerchandise InventorySales Returns and Allowances	- Select -	- Select -

Question Content Area

e. Received a refund from Foster Co. for return in (c) less the purchase in (d).

blank	Accounts Payable-Foster Co.Accounts Receivable-Foster Co.CashMerchandise InventorySales Returns and Allowances	- Select -	- Select -
	Accounts Payable-Foster Co.Accounts Receivable-Foster Co.CashMerchandise InventorySales Returns and Allowances	- Select -	- Select -