Sales Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to read customers Mar 2. Sold merchandise on account to Equinox Co., $20,100, terms FOB destination 1/10, 1/30. The cost of the goods sold was $12,160 3. Sold merchandise for $11,500 plus 6% sales tax to retail cash customers. The cost of the goods sold was $6,890. 4. Sold merchandise on account to Empire Co., 558,540, terms Foe shipping point, w/com. The cost of the goods sold was $34,350. 5. Sold merchandise for $27.750 plus 6% sales tax to retail customers who used MasterCard. The cost of the goods sold was $19,920, 12. Received check for amount due from Equinox Co. for sale on March 2 14. Sold merchandise to customers who used American Express cards, 513,640. The cost of the goods sold was $9,020. 16. Sold merchandise on account to Targhee Co., $25,900, terms Foe shipping point, 1/10, 1/30. The cost of the goods sold was $16,760 13 Issued and memo for $4,700 to Targhee Co. for merchandise returned from sale on March 16. The cost of the merchandise returned was $2,880 19. Sold merchandise on account to Vita Co 58,050, terms FOB shipping point, 2/10,30. Pald 560 for freight and added it to the invoice. The cost of the goods sold was $5,460. 26. Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 19. 28. Received check for amount due from Vista Co for sale of March 10 31. Received check for amount due from Empire Co for sale of March 4 31. Paid Veetwood Delivery Service 35,990 for merchandise delivered during March to customers under shipping terms of FOB destination Aoc 3. Pald City Bank $310 for service fees for handling MasterCard and American Express sales during March 15. Pald 56.703 to state sales tax division for taxes Owed on sale HW 8 eBook 4 Show Me How Print item FOB sunacon Apr. 3. Paid City Bank $810 for service fees for handling MasterCard and American Express sales during March 15. Paid 56,703 to state sales tax division for taxes owed on sales. Required: Journalize the entries to record the transactions of Amsterdam Supply Co. For a compound transaction. If no entry is required, leave the entry box blank. Debit Mar. 2-sale Accounts Receivable-Equinox Co. Date Account Credit Sales Date Account Debit Credit Mar 2-cost Cost of Goods Sold > Inventory Date Account Debit Credit Man 3-sale Cash Sales Sales Tax Payable Date Account Debit Credit Mar 3-cost Cost of Goods Sold Inventory Date Account Debit Credit Check My Work 2 more Check My Work uses remaining HW 8 eBook Show Me How Print Item Sales Tax Payable Date Account Debit Credit Mar. 3-cost Cost of Goods Sold Inventory Date Account Debit Credit Mar. 4-sale Accounts Receivable-Empire Co. Sales Date Account Debit Credit Mar. 4-cost Date Account Debit Credit Mar. 5-sale Date Account Debit Credit Mar. 5-cost Date Account Debit Credit Mar. 12 Date Account Debit Credit Mar. 14-sale Date Account Debit Credit Mar. 14-cost Date Account Debit Credit Mar. 16-sale Date Account Debit Credit Mar. 16-cost Date Account Debit Credit Mar. 18- Debit Credit Date Account Mar. 18- return Account Debit Credit Date Mar. 18-cost Account Debit Date Credit Mar. 19-sale > Date Account Debit Credit Mar. 19- freight Date Account Debit Credit Mar. 19-cost Date Account Debit Credit HW 8 eBook Show Me How Print Item Mar. 18-cost Date Account Debit Credit Mar. 19-sale Date Account Debit Credit Mar. 19- freight > Date Account Debit Credit Mar. 19-cost Date Account Debit Credit Mar. 26 Date Account Debit Credit Mar. 28 Check My Work 2 more Check My Work uses remaining, Date Account Debit Credit Mar. 28 Date Account Debit Credit Mar. 31- collection Date Account Debit Credit Mar. 31- freight Date Account Debit Credit |Apr. 3 Date Account Debit Credit Apr. 15 Sales Related Transactions Using Perpetual Inventory System The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to read customers Mar 2. Sold merchandise on account to Equinox Co., $20,100, terms FOB destination 1/10, 1/30. The cost of the goods sold was $12,160 3. Sold merchandise for $11,500 plus 6% sales tax to retail cash customers. The cost of the goods sold was $6,890. 4. Sold merchandise on account to Empire Co., 558,540, terms Foe shipping point, w/com. The cost of the goods sold was $34,350. 5. Sold merchandise for $27.750 plus 6% sales tax to retail customers who used MasterCard. The cost of the goods sold was $19,920, 12. Received check for amount due from Equinox Co. for sale on March 2 14. Sold merchandise to customers who used American Express cards, 513,640. The cost of the goods sold was $9,020. 16. Sold merchandise on account to Targhee Co., $25,900, terms Foe shipping point, 1/10, 1/30. The cost of the goods sold was $16,760 13 Issued and memo for $4,700 to Targhee Co. for merchandise returned from sale on March 16. The cost of the merchandise returned was $2,880 19. Sold merchandise on account to Vita Co 58,050, terms FOB shipping point, 2/10,30. Pald 560 for freight and added it to the invoice. The cost of the goods sold was $5,460. 26. Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 19. 28. Received check for amount due from Vista Co for sale of March 10 31. Received check for amount due from Empire Co for sale of March 4 31. Paid Veetwood Delivery Service 35,990 for merchandise delivered during March to customers under shipping terms of FOB destination Aoc 3. Pald City Bank $310 for service fees for handling MasterCard and American Express sales during March 15. Pald 56.703 to state sales tax division for taxes Owed on sale HW 8 eBook 4 Show Me How Print item FOB sunacon Apr. 3. Paid City Bank $810 for service fees for handling MasterCard and American Express sales during March 15. Paid 56,703 to state sales tax division for taxes owed on sales. Required: Journalize the entries to record the transactions of Amsterdam Supply Co. For a compound transaction. If no entry is required, leave the entry box blank. Debit Mar. 2-sale Accounts Receivable-Equinox Co. Date Account Credit Sales Date Account Debit Credit Mar 2-cost Cost of Goods Sold > Inventory Date Account Debit Credit Man 3-sale Cash Sales Sales Tax Payable Date Account Debit Credit Mar 3-cost Cost of Goods Sold Inventory Date Account Debit Credit Check My Work 2 more Check My Work uses remaining HW 8 eBook Show Me How Print Item Sales Tax Payable Date Account Debit Credit Mar. 3-cost Cost of Goods Sold Inventory Date Account Debit Credit Mar. 4-sale Accounts Receivable-Empire Co. Sales Date Account Debit Credit Mar. 4-cost Date Account Debit Credit Mar. 5-sale Date Account Debit Credit Mar. 5-cost Date Account Debit Credit Mar. 12 Date Account Debit Credit Mar. 14-sale Date Account Debit Credit Mar. 14-cost Date Account Debit Credit Mar. 16-sale Date Account Debit Credit Mar. 16-cost Date Account Debit Credit Mar. 18- Debit Credit Date Account Mar. 18- return Account Debit Credit Date Mar. 18-cost Account Debit Date Credit Mar. 19-sale > Date Account Debit Credit Mar. 19- freight Date Account Debit Credit Mar. 19-cost Date Account Debit Credit HW 8 eBook Show Me How Print Item Mar. 18-cost Date Account Debit Credit Mar. 19-sale Date Account Debit Credit Mar. 19- freight > Date Account Debit Credit Mar. 19-cost Date Account Debit Credit Mar. 26 Date Account Debit Credit Mar. 28 Check My Work 2 more Check My Work uses remaining, Date Account Debit Credit Mar. 28 Date Account Debit Credit Mar. 31- collection Date Account Debit Credit Mar. 31- freight Date Account Debit Credit |Apr. 3 Date Account Debit Credit Apr. 15