Q2 *Problem 5-10A Journal entries for merchandising transactions-periodic L07 Prepare general journal entries to record the following periodic system merchandising transactions for Schafer Merchandising. Use a separate account for each receivable and payable: Help Me SOLVE IT Oct. 1 Purchased merchandise from Zeon Company on credit, terms 2/10, n/30, $15,800. 2 Sold merchandise for cash, $2.100. 7 Purchased merchandise on credit from Billings Co., terms 2/10, n/30, $11.600, FOB the seller's factory. 7 Paid $450 cash for freight charges on the merchandise shipment of the previous transaction. 8 Purchased delivery equipment from Finlay Supplies on credit, $24,000. 12 Soid merchandise on credit to Comry Holdings, terms 2/15. 1/30, n/60, $5.800. 13 Received a $1,500 credit memo for merchandise purchased on October 7 and returned for credit. 13 Purchased office supplies on credit from Staples, $620, n/30. 15 Sold merchandise on credit to Tom Willis, terms 2/10, 1/30, n/60, $4,650. 15 Paid for the merchandise purchased on October 7. 16 19 Received a credit memo for unsatisfactory office supplies purchased on October 13 and returned, $120. Issued a $420 credit memo to the customer who purchased merchandise on October 15 and returned a portion for credit. 25 29 31 Received payment for the merchandise sold on October 15. The customer of October 12 paid for the purchase of that date. Paid for the merchandise purchased on October 1

"Problem 5-10A Joumal entrles for merchandising transactions-perlodic Lo7 folvith Prepare general journal entries to record the following periodic system merchandising transactions for Schafer Merchandising. Use a separate account for each receivable and payable: Oat. 1 Purchased merchandise from Zeon Company on creat, tems 2/10, 2/30,815,800. 2 Solig merchandise for cash, $2,100. 7 Purchased merchandse on credit trom Brings Ca, tems 2/10,1/30,511,600, foe the sellers factory. 7 Paio 5450 cash for treight charges on the menchandive shipment of the provious transaction. 8. Purchased delvery oquipment from Fintey Supplies on credit, 524,000 . 12 Sold merchandise on crede to Corny Holdings, terms 2/15,1/30, , 60.,55.800. 13 Rocelved a 31.500 crectit memo for morchanose purchased on October 7 and retumed for creati. 13 Purchased office suppies an credit trom Stapies, 1620,1330. 15 Sold merchandse on credr to forn wins, terms 2/10,1/30, N60, 34,650 . 15 Paid for the merchandise purchased on October 7. 16 Receved a creorit memo for unsatistactory offlce supplies purchased on October 13 and retumed, 5120. 19 Issued a 8420 credit memo to the customer mho purchased merchandse on October 15 and retumed oportion for eredt: 25 Aecelved payment for the merchandise sold on October 15. 29 the customer of October 12 paid for the purchase of that cate. 31 Paic for the merchandise ourchased an ortatere 1