Sales-Related and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System The following selected transactions were completed during April between Swan Company and Bird Company: Apr. 2. Swan Company sold merchandise on account to Bird Company, $15,700, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $475, which was added to the invoice. The cost of the merchandise sold was $9,900. 8. Swan Company sold merchandise on account to Bird Company, $23,000, terms FOB destination, 1/15, n/30. The cost of the merchandise sold was $13,800. 8. Swan Company paid freight of $730 for delivery of merchandise sold to Bird Company on April 8. 12. Bird Company paid Swan Company for purchase of April 2. 18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $13,600, terms FOB shipping point, n/45. The cost of the merchandise sold was $8,200. 26. Bird Company paid freight of $380 on April 24 purchase from Swan Company. Required: Required: 1. Journalize the April transactions for Bird Company (the buyer). If an amount box does not require an entry, leave it blank. Date Account Debit Credit Apr. 2 Merchandise Inventory 16,175 x Accounts Payable-Swan Company MV 16,175 X Date Account Debit Credit Apr. 8 Merchandise Inventory 23,000 X Accounts Payable-Swan Company 23,000 X Date Account Debit Credit Apr. 12 Accounts Payable-Swan Company 16,175 x Cash 16,175 X Date Account Debit Credit Apr. 18 Cash 2,000 Merchandise Inventory 2,000 Date Account Debit Credit Apr. 23 Accounts Payable-Swan Company 23,000 X Cash 22,540 X Date Account Debit Credit Apr. 24 Merchandise Inventory 13,600 Accounts Payable-Swan Company 13,600 Date Account Debit Credit Apr. 26 Merchandise Inventory 380 Cash 380 C lournalize the Anil transactions for Swan company (the seller +) + ! 1 Tf an amount boy does not require an entry leave it blank 2. Journalize the April transactions for Swan Company (the seller). If an amount box does not require an entry, leave it blank. Date Account Debit Credit Apr. 2-sale Accounts Receivable-Bird Company 15,700 X Sales 15,700 X Date Account Debit Credit Apr. 2-freight Accounts Receivable-Bird Company 475 Cash 475 Date Account Debit Credit Apr. 2-cost Cost of Merchandise Sold 9,900 Merchandise Inventory 9,900 Date Account Debit Credit Apr. 8-sale Accounts Receivable-Bird Company 23,000 X Sales 23,000 X Date Account Debit Credit Apr. 8-cost Cost of Merchandise Sold 13,800 Merchandise Inventory 13,800 Date Account Debit Credit Apr. 8-freight Delivery Expense 730 Cash 730 Date Account Debit Credit Apr. 12 Cash 15,386 X Accounts Receivable-Bird Company 15,386 X Date Account Debit Credit Apr. 18 Customer Refunds Payable 2,000 Cash 2,000 Date Account Debit Credit Apr. 23 Cash 22,770 Accounts Receivable-Bird Company 22,770 Date Account Debit Credit Apr. 24-sale Accounts Receivable-Bird Company 13,600 Sales 13,600 Date Account Debit Credit Apr. 24-cost Cost of Merchandise Sold 8,200 Merchandise Inventory 8,200
