Sales-Related and Purchase-Related Transactions UsingPeriodic 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 discount15%, termsFOB shipping point, 2/10, n/30, with prepaid freight of $1,450 added to theinvoice.5.Purchased merchandise on account from Kester Co., $33,450, termsFOB destination, 2/10, n/30.6.Sold merchandise on account to Parsley Co., $36,000, terms n/15. Thecost of the merchandise soldwas $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 entries to record the transactions of Essex Company for July using the periodic inventory system. If an amount box does not require an entry, leave it blank.