Record the following transactions for Sparkys Pet Shop.

Date	Transaction
August 1	Purchased $6,000 of merchandise on account, terms 2/10, n/30.
3	Returned $1,500 of merchandise purchased on August 1 due to defects.
7	Recorded cash sales for the first week of August, $9,750; cost of the merchandise was $4,000.
10	Made sale on account to a local breeder for $500, terms 1/10 net 30; cost of the merchandise was $200.
11	Paid for the merchandise purchased on August 1, less return.
20	Received payment from sale of August 10.

Required:

Journalize the above transactions. Assume Sparkys uses a perpetual inventory system. Refer to the Chart of Accounts for exact wording of account titles.

Chart of Accounts

CHART OF ACCOUNTS

Sparkys Pet Shop

General Ledger

	ASSETS
110	Cash
120	Accounts Receivable
125	Notes Receivable
130	Inventory
131	Estimated Returns Inventory
140	Supplies
142	Prepaid Insurance
180	Land
190	Equipment
191	Accumulated Depreciation

	LIABILITIES
210	Accounts Payable
216	Salaries Payable
221	Sales Tax Payable
222	Customers Refunds Payable
231	Unearned Rent
241	Notes Payable

	EQUITY
310	Common Stock
311	Retained Earnings
312	Dividends
313	Income Summary

	REVENUE
410	Sales

	EXPENSES
510	Cost of Goods Sold
521	Delivery Expense
522	Advertising Expense
523	Depreciation Expense
526	Salaries Expense
531	Rent Expense
533	Insurance Expense
534	Supplies Expense
536	Credit Card Expense
560	Miscellaneous Expense
710	Interest Expense

General Journal

Journalize each transaction. Refer to the Chart of Accounts for exact wording of account titles.

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JOURNAL

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