Sales-Related Transactions

The following selected transactions were completed by Lawn Supplies Co., which sells irrigation supplies primarily to wholesalers and occasionally to retail customers:

Word doc. enclosed with homework problem

Sales-Related Transactions The following selected transactions were completed by Lawn Supplies Co., which sells irrigation supplies primarily to wholesalers and occasionally to retail customers: Mar. 1. Sold merchandise on account to Green Grass Co., $15,900, terms FOB shipping point, n/eom. The cost of merchandise sold was $9,500. 2. Sold merchandise for $19,700 plus 6% sales tax to retail cash customers. The cost of merchandise sold was $12,800. 5. Sold merchandise on account to Jones Company, $33,200, terms FOB destination, 2/10, n/30. The cost of merchandise sold was $21,600. 8. Sold merchandise for $8,700 plus 5% sales tax to retail customers who used VISA cards. The cost of merchandise sold was $5,200. 13. Sold merchandise to customers who used MasterCard cards, $10,000. The cost of merchandise sold was $6,300. 14. Sold merchandise on account to Haynes Co., $11,000, terms FOB shipping point, 1/10, n/30. The cost of merchandise sold was $6,500. 15. Received check for amount due from Jones Company for sale on Mar. 5. 16. Issued credit memo for $1,700 to Haynes Co. for merchandise returned from sale on Mar. 14. The cost of the merchandise returned was $1,000. 18. Sold merchandise on account to Horton Company, $5,200, terms FOB shipping point, 2/10, n/30. Paid $260 for freight and added it to the invoice. The cost of merchandise sold was $3,100. 24. Received check for amount due from Haynes Co. for sale on Mar. 14 less credit memo of Mar. 16 and discount. 28. Received check for amount due from Horton Company for sale of Mar. 18. 31. Paid First Delivery Service $2,140 for merchandise delivered during Mar. to customers under shipping terms of FOB destination. 31. Received check for amount due from Green Grass Co. for sale of Mar. 1. Apr. 3. Paid First Federal Bank $830 for service fees for handling MasterCard and VISA sales during Mar. 10. Paid $1,860 to state sales tax division for taxes owed on sales. Required: Journalize the entries to record the transactions of Lawn Supplies Co. For a compound transaction, if no entry is required, leave the entry box blank. Date Account Debit Credit Mar. 1-sale Select Select Date Mar. 1-cost Account Debit Credit Select Select Date Mar. 2-sale Account Debit Credit Select Select Select Date Mar. 2-cost Account Debit Credit Select Select Date Mar. 5-sale Account Select Select Debit Credit Date Account Mar. 5-cost Debit Credit Select Select Date Account Mar. 8-sale Debit Credit Select Select Select Date Account Mar. 8-cost Debit Credit Select Select Date Account Mar. 13-sale Debit Credit Select Select Date Account Mar. 13-cost Debit Credit Select Select Date Account Mar. 14-sale Debit Credit Select Select Date Account Mar. 14-cost Debit Credit Debit Credit Select Select Date Mar. 15 Account Select Select Select Date Mar. 16-return Account Debit Credit Debit Credit Select Select Date Mar. 16-cost Account Select Select Date Account Mar. 18-sale Debit Credit Debit Credit Debit Credit Select Select Date Account Mar. 18-freight Select Select Date Account Mar. 18-cost Select Select Date Mar. 24 Account Debit Credit Select Select Select Date Mar. 28 Account Debit Credit Select Select Select Date Mar. 31-freight Account Debit Credit Account Debit Credit Select Select Date Mar. 31collection Select Select Date Apr. 3 Account Debit Credit Debit Credit Select Select Date Apr. 10 Account Select Select