red in September 2016 for d e Joure the flowing second the The vende of concrecord lock the con low the transactions) w ing the popullorystem plans from oumas ) bergued No explanations are needed yeach accounts payable and accounts receivable with More Info Intit Sep. 3 Purchased merchandise inventory on account from Sharpner Wholesalers, $6,000. Terms 2/15, n/EOM, FOB shipping point. 4 Paid freight bill of $90 on September 3 purchase. 4 Purchase merchandise inventory for cash of $2,200. 6 Returned $500 of inventory from September 3 purchase. 8 Sold merchandise inventory to Hollingshead Company, $5,900, on account. Terms 2/15, n/35. Cost of goods, $2,655. 9 Purchased merchandise inventory on account from Taylor Wholesalers, $10,000 Terms 1/10,n/30, FOB destination 10 Made payment to Sharpner Wholesalers for goods purchased on September 3, less retum and discount. 12 Received payment from Hollingshead Company, less discount 13 After negbtiations, received a $100 allowance from Taylor Wholesalers 15 Sold merchandise inventory to Jordon Company $2,500, on account. Terms 2/10,n/EOM. Cost of goods, $1,025 22 Made payment, less allowance, to Taylor Wholesalers for goods purchased on September 9 23 Jordon Company returned $800 of the merchandise sold on September 15. Cost of goods, $328 25 Sold merchandise inventory to Secker for $1,300 on account that cost $559. Print Done * More Info Terms 2/15, n/35. Cost of goods, $2,655. 9 Purchased merchandise inventory on account from Taylor Wholesalers, $10,000 Terms 1/10, n/30, FOB destination. 10 Made payment to Sharpner Wholesalers for goods purchased on September 3, less retum and discount. 12 Received payment from Hollingshead Company, less discount. 13 After negotiations, received a $100 allowance from Taylor Wholesalers. 15 Sold merchandise inventory to Jordon Company, $2,500, on account. Terms 2/10, n/EOM. Cost of goods, $1,025 22 Made payment, less allowance, to Taylor Wholesalers for goods purchased on September 9 Jordon Company returned $800 of the merchandise sold on September 15. Cost of goods, $328 25 Sold merchandise inventory to Secker for $1,300 on account that cost $559. Terms of 2/10, n/30 were offered, FOB shipping point. As a courtesy to Secker, $50 of freight was added to the invoice for which cash was paid by Faucet. 26 After negotiations, granted a $100 allowance to Secker for merchandise purchased on September 25 29 Received payment from Secker less allowance and discount 30 Received payment from Jordon Company, less return Print : Done Sep. 3. Purchased merchandise inventory on account from Sharpner Wholesalers, 56,000. Terms 2/15, VEOM, FOB shipping point Date Accounts Debit Credit Sep 3 Sep. 4: Paid freight bill of $90 on September 3 purchase. Date Accounts Debit Credit Sep. 4 Sep 4: Purchase merchandise inventory for cash of $2,200. Date Accounts Debit Credit Sep. 4 Sep 6. Returned $500 of inventory from September 3 purchase Date Accounts Debit Credit Sep 6 Sep. 8: Sold merchandise inventory to Hollingshead Company, 55,900, on account. Terms 2/15, 135. Cost of goods, 52,655. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step Date Accounts Debit Credit Sep. 8 Now journalize the expense related to the September 8 sale--Cost of goods, 32,655 Accounts Date Credit Debit Sep. 8 Sep. 9. Purchased merchandise inventory on account from Taylor Wholesalers, 510,000. Terms 1/10, 1/30, FOB destination, Date Accounts Debit Credit Sep. 9 Sep 10: Made payment to Sharpner Wholesalers for goods purchased on September 3, less return and discount. Date Accounts Debit Credit Sep. 10 Sep. 12: Received payment from Hollingshead Company, less discount Date Accounts Debit Credit Sep. 12 Sep. 13: After negotiations, received a $100 allowance from Taylor Wholesalers. Date Accounts Debit Credit Sep. 13 Sep. 15. Sold merchandise inventory to Jordon Company, 52,500, on account. Terms 2/10, VEOM Cost of goods, $1,025 Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step Accounts Debit Credit Sep. 15 Date Now journalize the expense related to the September 15 sale-Cost of goods, $1,025 Date Accounts Debit Credit Sep. 15 Sep 22: Made payment, less allowance, to Taylor Wholesalers for goods purchased on September 9. Date Accounts Debit Credit Sep. 22 Sep 23 Jordon Company returned 5800 of the merchandise sold on September 15. Cost of goods, 5328 Start by preparing the entry to record the sales return and decrease to the receivable. Do not update the Merchandise Inventory with this entry. We will do that in the following step Date Accounts Debit Credit Sep 23 Now journalize the expense related to the September 25 sale--Cost of goods, $559 Date Accounts Debit Credit Sep. 25 Sep. 26. After negotiations, granted a $100 allowance to Secker for merchandise purchased on September 25. Date Accounts Debit Credit Sep 26 Journalize the following transactions that occurred in September 2016 for Faucet, assuming the perpetual inventory system is be the vendor or customer name. (Record debits first, then credits. Exclude explanations from journal entries.) (Click the icon to view the transactions.) Sep. 29: Received payment from Secker, less allowance and discount. Date Accounts Sep. 29 Debit Credit Sep 30: Received payment from Jordon Company, less return. Date Accounts Debit Credit Sep. 30 Choose from any list or enter any number in the input fields and then continue to the next question Save for Later Journalize the following transactions that occurred in September 2016 for Faucet, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name (Record debits first, then credits. Exclude explanations from journal entries.) (Click the icon to view the transactions.) * More Info Sep. 3 4 4 6 9 Purchased merchandise inventory on account from Sharpner Wholesalers. $6,000. Terms 2/15, n/EOM, FOB shipping point. Paid freight bill of $90 on September 3 purchase. Purchase merchandise inventory for cash of $2,200. Returned $500 of inventory from September 3 purchase. Sold merchandise inventory to Hollingshead Company, $5,900, on account. Terms 2/15, n/35. Cost of goods, $2,655. Purchased merchandise inventory on account from Taylor Wholesalers, $10,000. Terms 1/10, n/30, FOB destination. Made payment to Sharpner Wholesalers for goods purchased on September 3, less return and discount. Received payment from Hollingshead Company, less discount After negotiations, received a $100 allowance from Taylor Wholesalers. Sold merchandise inventory to Jordon Company, $2,500, on account. Terms 2/10, n/EOM. Cost of goods, $1,025. Made payment, less allowance, to Taylor Wholesalers for goods purchased on September 9. Jordon Company returned $800 of the merchandise sold on September 15. Cost 10 12 13 15 22 23 - --- 22 y Purchase Herchandise aventury Ull du Terms 1/10, n/30, FOB destination: 10 Made payment to Sharpner Wholesalers for goods purchased on September 3, less return and discount. 12 Received payment from Hollingshead Company, less discount. 13 After negotiations, received a $100 allowance from Taylor Wholesalers. 15 Sold merchandise inventory to Jordon Company, $2,500, on account. Terms 2/10, n/EOM. Cost of goods, $1,025. Made payment, less allowance, to Taylor Wholesalers for goods purchased on September 9. 23 Jordon Company returned $800 of the merchandise sold on September 15. Cost of goods, $328 25 Sold merchandise inventory to Secker for $1,300 on account that cost $559. Terms of 2/10, n/30 were offered, FOB shipping point. As a courtesy to Secker, $50 of freight was added to the invoice for which cash was paid by Faucet. 26 After negotiations, granted a $100 allowance to Secker for merchandise purchased on September 25. 29 Received payment from Secker, less allowance and discount. 30 Received payment from Jordon Company, less return FERDICHIGUISCRIVE ry on account from Sharpner Wholesalers, $6,000. I Accounts Debit Debit Cre Accounts PayableSharpner Wholesalers Accounts PayableTaylor Wholesalers Accounts ReceivableHollingshead Company I freic Accounts Receivable Jordon Company Accounts Receivable-Secker Cash Cost of Goods Sold Delivery Expense Freight In Merchandise Inventory Purchase Discounts hase Purchase Returns and Allowances Purchases ze the following transactions that occurred in September 2016 for Faucet, assuming lor or customer name. (Record debits first, then credits. Exclude explanations from jo ck the icon to view the transactions.) Purchased merchandise inventory on account from Sharpner Wholesalers, 56,000. T ate Accounts Debit Two Turor ONCAC Accounts ReceivableHollingshead Company Accounts ReceivableJordon Company Accounts Receivable-Secker Cash Paid freic Cost of Goods Sold Date Delivery Expense Debit Freight in Merchandise Inventory Purchase Discounts Purchase Returns and Allowances Purchases Sales Discounts as Sales Returns and Allowances Sales Revenue se from any mist or enter any number we put terus anu men continue to the ne e for Later 5 Question Help Journalize the following transactions that occurred in September 2016 for Faucet, assuming the perpetual inventory systerr is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. (Record debits first, then credits. Exclude explanations from journal entries.) (Click the icon to view the transactions.) Sep. 3: Purchased merchandise inventory on account from Sharpner Wholesalers, $6,000. Terms 2/15 n/EOM. FOB shipping point Date Accounts Debit Credit Sep. 3 Sep. 4: Paid freight bill of $90 on September 3 purchase. Date Accounts Debit Credit Sep. 4 Sep. 4: Purchase merchandise inventory for cash of $2,200. Date Accounts Debit Credit Sep. 4 Sep. 6: Returned $500 of inventory from September 3 purchase Date Accounts Debit Credit Sep. 6 Sep. 8: Sold merchandise inventory to Hollingshead Company, $5,900, on account. Terms 2/15, 1/35. Cost of goods, $2,655. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit Sep. 8 Now journalize the expense related to the September 8 salo-Cost of goods, $2,655. Date Accounts Sep. 8 Debit Credit Choose from any list or enter any number in the input fields and then continue to the next question Sep. 9: Purchased merchandise inventory on account from Taylor Wholesalers, $10,000. Terms 1/10,n/30, FOB destination Date Accounts Debit Credit Sep.9 Sep. 10: Made payment to Sharpner Wholesalers for goods purchased on September 3, less return and discount Date Accounts Debit Credit Sep 10 Sep 12: Received payment from Hollingshead Company, less discount. Date Accounts Debit Credit Sep. 12 Sep. 13: After negotiations, received a $100 allowance from Taylor Wholesalers. Date Accounts Debit Credit Sep. 13 Sep. 15: Sold merchandise inventory to Jordon Company, $2,500, on account. Terms 2/10,n/EOM. Cost of goods, $1,025 Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit Sep. 15 Now journalize the expense related to the September 15 sale-Cost of goods, $1,025. Date Accounts Debit Credit Sep. 15 Sep. 22: Made payment, less allowance, to Taylor Wholesalers for goods purchased on September 9 Date Accounts Debit Credit Sep. 22 Sep. 23: Jordon Company returned $800 of the merchandise sold on September 15. Cost of goods, 5328. Start by preparing the entry to record the sales return and decrease to the receivable. Do not update the Merchandise Inventory with this entry. We will do that in the following step Date Accounts Debit Credit Sep. 23 Now prepare the entry to update the Merchandise Inventory account for the cost of the returned merchandise_Cost of goods returned, $328 Date Accounts Debit Credit Sep. 23 Sep. 25: Sold merchandise inventory to Secker for $1,300 on account that cost $559. Terms of 2/10, 1/30 were offered, FOB shipping point. As a courtesy to Secker, $50 of freight was added to the invoice for which cash was paid by Faucet Begin by preparing a compound journal entry to journalize the sale and the full amount of the receivable from this transaction. Do not record the expense related to the sale. We will do that in the following step. (Prepare a compound journal entry) Date Accounts Debit Credit Now journalize the expense related to the September 25 sale --Cost of goods, $559. Date Accounts Debit Credit Sep. 25 Sep. 26: After negotiations, granted a $100 allowance to Secker for merchandise purchased on September 2 Date Accounts Debit Credit Sep. 26 Sep. 29: Received payment from Secker, less allowance and discount. Date Accounts Debit Credit Sep. 29 Sep 30: Received payment from Jordon Company, less return Date Accounts Debit Credit Sep. 30