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 retail customers: Mar. 2. Sold merchandise on account to Equinox Co., $18,700, terms FOB destination, 1/10, n/30. The cost of the goods sold was $14,220. 3. Sold merchandise for $10,200 plus 6% sales tax to retail cash customers. The cost of the goods sold was $6,380. 4. Sold merchandise on account to Empire Co., $51,170, terms FOB shipping point, n/eam. TThe cost of the goods sold was $35,810. 5. Sold merchandise for $30,300 plus 6% sales tax to retail customers who used MasterCard. The cost of the goods sold was $18,980. 12. Received check for amount due from Equinox Co. for sale on March 2. 14. Sold merchandise to customers who used American Express cards, $12,460. The cost of the goods sold was $7,950. 16. Sold merchandise on account to Targhee Co., $29,700, terms FOB shipping point, 1/10, n/30. The cost of the goods sold was $15,270. 18. Issued credit memo for $5,000 to Targhee Co. for merchandise returned from sale on March 16. The cost of the merchandise returned was $2,790. 19. Sold merchandise on account to Vista Co., $8,700, terms FOB shipping point, 2/10, n/30. Paid $95 for freight and added it to the invoice. The cost of the goods sold was $5,470. 26. Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18. 28. Received check for amount due from Vista Co. for sale of March 19. 31. Received check for amount due from Empire Co. for sale of March 4.1 26. Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18. 28. Received check for amount due from Vista Co. for sale of March 19. 31. Received check for amount due from Empire Co. for sale of March 4. 31. Paid Fleetwood Delivery Service $5,600 for merchandise delivered during March to customers under shipping terms of FOB destination. Apr. 3. Paid City Bank $860 for service fees for handling MasterCard and American Express sales during March. 15. Paid $6,479 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. Date Account Mar. 2-sale Accounts Receivable-Equinox Co. Date Sales Mar. 2-cost Cost of Goods Sold Inventory Debit Credit 18,700 18,700 Account Debit Credit 14,220 14,220 Date Account Debit Credit Mar. 3-sale Cash 10,812 Sales 10,200 9 Sales Sales Tax Expense 10,200 612 Date Account Credit Mar. 3-cost Cost of Goods Sold 6,380 Inventory 6,380 Date Account Debit Credit 51,170 51,170 Mar. 4-sale Accounts Receivable-Empire Co. Date Sales Mar. 4-cost Cost of Goods Sold Inventory Account Debit Credit 35,810 35,810 Date Account Debit Credit Mar. 5-sale Cash 32,118 Sales 30,300 Sales Tax Expense 1,818 Date Debit Credit Account Date Mar. 5-cost Cost of Goods Sold Date Inventory Account Debit Credit 18,980 18,980 Account Debit Credit Mar. 12 Accounts Receivable-Equinox Co Date Mar 14-sale Sales Account Debit Credit Account Debit Credit Date Mar. 14-cost Debit Credit Date Account Mar. 16-sale) PEYRNA Date Account Debit Credit Mar. 16-cost Date Mar. 18-1 return a Account Debit Credit Date Account Debit Credit Mar. 18-cost Date Account Debit Credit Mar. 19-sale Date Account Debit Credit Mar. 19- freight Date Mar. 19-cost Date Mar. 26 Account Debit Credit Account Debit Credit Date Account Debit Credit Mar. 28 Date Account Debit Credit Mar. 31- collection Date Mar. 31-1 freight Account Debit Credit Date Account Debit Credit Mar. 31- collection Date Mar. 31-1 freight Date Apr. 3 Account Debit Credit Account Debit Credit Date: Account Debit Credit Apr 15