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Question 4 (15 points) The Trophy Company uses a perpetual inventory system. The following transactions occurred during July 2019 Jul 7 Sold merchandise to Hockey
Question 4 (15 points) The Trophy Company uses a perpetual inventory system. The following transactions occurred during July 2019 Jul 7 Sold merchandise to Hockey Co. for $6,000 terms of 2/10, n/30. The merchandise had a cost of $1,500 8 Purchased merchandise from Smith Co. for $4,700, terms 2/10, 1/30, FOB shipping point 12 Paid $125 to Anderson Trucking Services for delivery charges for the July 8 purchase. 15 Received payment from Hockey Co. for the balance owing on their account 17 Returned for credit, $750 of the merchandise purchased on July 8. 25 Paid Smith Co the amount owing Required: Prepare the journal entries for the July transactions on the general journal form provided
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