Sales and purchase-related transactions using perpetual inventory system

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 $80,000, trade discount 20%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $880 added to the invoice.
5.	Purchased merchandise on account from Kester Co., $45,800, terms FOB destination, 2/10, n/30.
6.	Sold merchandise on account to Parsley Co., $16,750, terms n/15. The cost of the goods sold was $9,860.
7.	Returned merchandise with an invoice amount of $12,800 purchased on July 5 from Kester Co.
13.	Paid Hamling Co. on account for purchase of July 3.
15.	Paid Kester Co. on account for purchase of July 5, less return of July 7.
21.	Received cash on account from sale of July 6 to Parsley Co.
21.	Sold merchandise with a list price of $231,050 to customers who used MasterCard and who redeemed $8,600 of point-of-sale coupons. The cost of the goods sold was $134,100.
22.	Sold merchandise on account to Tabor Co., $62,400, terms n/30. The cost of the goods sold was $32,800.
23.	Sold merchandise for cash, $37,650. The cost of the goods sold was $22,330.
28.	Paid Parsley Co. a cash refund of $6,140 for returned merchandise from sale of July 6. The cost of the returned merchandise was $3,010.
31.	Paid MasterCard service fee of $3,240.
31.	During July, printed a coupon with each customers sales receipt for $1 off the customers 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:

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

July 3
July 5
July 6
July 6
July 7
July 13
July 15
July 21
July 21
July 21
July 22
July 22
July 23
July 23
July 28
July 28
July 31
July 31

2. Assume that as of August 31, 16,100 of the $1-off coupons issued during July had been redeemed by customers. Journalize the entry for the remaining unredeemed coupons. If an amount box does not require an entry, leave it blank.

Aug. 31