1. 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, $13,700, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $290, which was added to the invoice. The cost of the merchandise sold was $8,600.
   8.	Swan Company sold merchandise on account to Bird Company, $31,000, terms FOB destination, 1/15, n/30. The cost of the merchandise sold was $18,600.
   8.	Swan Company paid freight of $740 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, $9,300, terms FOB shipping point, n/45. The cost of the merchandise sold was $5,600.
   26.	Bird Company paid freight of $280 on April 24 purchase from Swan Company.
   30.	Swan Company granted a customer allowance (credit memo) to Bird Company for $11,300 for merchandise that was returned from the August 24 purchase. The cost of the merchandise returned was $6,500.

   Required:

   1. Journalize the April transactions for Bird Company (the buyer).

   Date	Account	Debit	Credit
   Apr. 2	Merchandise Inventory
   	Accounts Payable-Swan Company

   Date	Account	Debit	Credit
   Apr. 8	Merchandise Inventory
   	Accounts Payable-Swan Company

   Date	Account	Debit	Credit
   Apr. 12	Accounts Payable-Swan Company
   	Cash

   Date	Account	Debit	Credit
   Apr. 18	Cash
   	Merchandise Inventory

   Date	Account	Debit	Credit
   Apr. 23	Accounts Payable-Swan Company
   	Cash

   Date	Account	Debit	Credit
   Apr. 24	Merchandise Inventory
   	Accounts Payable-Swan Company

   Date	Account	Debit	Credit
   Apr. 26	Merchandise Inventory
   	Cash

   Date	Account	Debit	Credit
   Apr. 30	Accounts Payable-Swan Company
   	Merchandise Inventory

   2. Journalize the April transactions for Swan Company (the seller).

   Date	Account	Debit	Credit
   Apr. 2-sale	Accounts Receivable-Bird Company
   	Sales

   Date	Account	Debit	Credit
   Apr. 2-freight	Accounts Receivable-Bird Company
   	Cash

   Date	Account	Debit	Credit
   Apr. 2-cost	Cost of Merchandise Sold
   	Merchandise Inventory

   Date	Account	Debit	Credit
   Apr. 8-sale	Accounts Receivable-Bird Company
   	Sales

   Date	Account	Debit	Credit
   Apr. 8-cost	Cost of Merchandise Sold
   	Merchandise Inventory

   Date	Account	Debit	Credit
   Apr. 8-freight	Delivery Expense
   	Cash

   Date	Account	Debit	Credit
   Apr. 12	Cash
   	Accounts Receivable-Bird Company

   Date	Account	Debit	Credit
   Apr. 18
   	Cash

   Date	Account	Debit	Credit
   Apr. 23	Cash
   	Accounts Receivable-Bird Company

   Date	Account	Debit	Credit
   Apr. 24-sale	Accounts Receivable-Bird Company
   	Sales

   Date	Account	Debit	Credit
   Apr. 24-cost	Cost of Merchandise Sold
   	Merchandise Inventory

   Date	Account	Debit	Credit
   Apr. 30	Customer Refunds Payable
   	Accounts Receivable-Bird Company

   Date	Account	Debit	Credit
   Apr. 30	Merchandise Inventory
   	Estimated Returns Inventory