Sales$-$Related 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 $$72,000,$ trade discount $15\%,$ terms FOB shipping point, $2/10,$ n$/30,$ with prepaid freight of $$1,450$ added to the invoice.

$5.$ Purchased merchandise on account from Kester Co$.,$ $$33,450,$ terms FOB destination, $2/10,$ n$/30.$

$6.$ Sold merchandise on account to Parsley Co$.,$ $$36,000,$ terms n$/15.$ The cost of the merchandise sold was $$25,000.$

$7.$ Returned $$6,850$ of merchandise 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 on MasterCard, $$108,000.$ The cost of the merchandise sold was $$64,800.$

$22.$ Sold merchandise on account to Tabor Co$.,$ $$16,650,$ terms $2/10,$ n$/30.$ The cost of the merchandise sold was $$10,000.$

$23.$ Sold merchandise for cash, $$91,200.$ The cost of the merchandise sold was $$55,000.$

$28.$ Paid Parsley Co$.$ a cash refund of $$2,500$ for damaged merchandise from sale of July $6.$ Parsley Co$.$ kept the merchandise.

$31.$ Paid MasterCard service fee of $$1,650.$

Required:

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

July $3$

Merchandise Inventory

Accounts Payable$-$Hamling Co$.$

July $5$

Merchandise Inventory

Accounts Payable$-$Kester Co$.$

July $6-$sale

Accounts Receivable$-$Parsley Co$.$

$36,000$

Sales

$36,000$

July $6-$cost

Cost of Merchandise Sold

$25,000$

Merchandise Inventory

$25,000$

July $7$

Accounts Payable$-$Kester Co$.$

Merchandise Inventory

July $13$

Accounts Payable$-$Hamling Co$.$

Cash

July $15$

Accounts Payable$-$Kester Co$.$

Cash

July $21$

Cash

Accounts Receivable$-$Parsley Co$.$

July $21-$sale

Cash

Sales

July $21-$cost

Cost of Merchandise Sold

Merchandise Inventory

July $22-$sale

Accounts Receivable$-$Tabor Co$.$

Sales

July $22-$cost

Cost of Merchandise Sold

Merchandise Inventory

July $23-$sale

Cash

Sales

July $23-$cost

Cost of Merchandise Sold

July $28$

July $31$