Sales and purchase$-$related transactions using perpetual inventory system July $6$

Cost $of$ Goods Sold

$9,180$

Inventory

$9,180$

July $7$ Accounts Payable$-$Kester $Co.T10,976$

Inventory

$10,976$

Cash

$6573\frac{O}{?}$

$Z$

Cash

$66573d$

$$

July $13$ Accounts Payable$-$Hamling Co$.65,376$

July $15$ Accounts Payable$-$Kester Co$.$

July $21$

July $21$

July $21$

July $22$

July $22$

July $23$

July $23$

All work saved. July $21$

July $22$

July $22$

July $23$

July $23$

July $28$

$1$

July $28$

July $31$

July $31$

July $31$

require an entry, leave it blank.

Aug. $31$

$1$

The following were selected from among the transactions completed by Essex Company during July of the current year:

July $3.$ Purchased merchandise on account from Hamling Co$.,$ list price $$94,000,$ trade discount $30\%,$ terms FOB shipping point, $\frac{2}{10},$ n$/30,$ with

prepaid freight of $$890$ added to the invoice.

Purchased merchandise on account from Kester Co$.,$ $$47,050,$ terms FOB destination, $2/10,$ n$/30.$

Sold merchandise on account to Parsley Co$.,$ $$14,140,$ terms $\frac{n}{15}.$ The cost of the goods sold was $$9,180.$

Returned merchandise with an invoice amount of $$11,200$ purchased on July $5$ from Kester Co$.$

Paid Hamling Co$.$ on account for purchase of July $3.$

Paid Kester Co$.$ on account for purchase of July $5,$ less return of July $7.$

Received cash on account from sale of July $6$ to Parsley Co$.$

Sold merchandise with a list price of $$219,190$ to customers who used MasterCard and who redeemed $$9,700$ of point$-$of$-$sale coupons. The

cost of the goods sold was $$134,930.$

Sold merchandise on account to Tabor Co$.,$ $$56,300,$ terms $\frac{n}{30}.$ The cost of the goods sold was $$35,100.$

Sold merchandise for cash, $$34,310.$ The cost of the goods sold was $$23,200.$

Paid Parsley Co$.$ a cash refund of $$5,820$ for returned merchandise from sale of July $6.$ The cost of the returned merchandise was $$2,990.$

Paid MasterCard service fee of $$3,470.$

During July, printed a coupon with each customer's sales receipt for $$1$ off the customer's next purchase of over $$10.$ The coupons may be

redeemed during August. Of the total of $30,000$ coupons printed, it is estimated that $60\%$ will be redeemed.

Required:

Journalize the transactions. If an amount box does not require an entry, leave it blank.

July $3$

July $6$