Select Retailer/Merchandiser-Related Transactions: 1-Jan Monsters Inc. purchased merchandise on account from Star Trek Enterprises Terms: FOB shipping point Discount 3% if paid in 10 days, otherwise, n/45 COGS: $10,250 2-Jan Monsters Inc. pays freight $575 3-Jan Monsters Inc. purchased additional merchandise on account from Star Trek Enterprises Terms: FOB destination Discount 1% if paid in 10 days, otherwise, n/45 COGS: $2,300 7-Jan Star Trek Enterprises pays freight $125 10-Jan Star Trek Enterprises received payment from Monsters Inc. for purchase on the 1st. 22-Jan Star Trek gave Monsters Inc. a credit for damaged merchandise from purchase on the 3rd 31-Jan Star Trek Enterprises received payment from Monsters Inc. for purchase on the 3rd. Input instructions: Journal Entries: If cash is received, make it the first debit in the entry If cash is paid, make it the last credit in the entry Debits are listed first, credits are listed second $225 (Difference between debits and credits - you want this to be $0 ) (Difference between debits and credits - you want this to be $0 ) \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{\begin{tabular}{l} Monsters Inc. \\ Statement of Stockholder's Equity \\ For period ending July 31 , current year \end{tabular}} \\ \hline \multicolumn{3}{|c|}{ Common Stock } & Retained Earnings & \multicolumn{2}{|c|}{ Total } \\ \hline Beginning of Period & $ & 2,400 & & $ & 2,400 \\ \hline Net Income & & & & $ & - \\ \hline Dividends & & & & $ & - \\ \hline Stock Additions & $ & 185,523.00 & & $ & 185,523 \\ \hline End of Period, December 31 & & 2,400 & & $ & 2,400 \\ \hline \end{tabular} \begin{tabular}{|r|l|l|l|} \hline Transaction & \multicolumn{1}{|c|}{ Star Trek Enterprises } & Debit & Credit \\ \hline 1-Jan & Sales Revenue & & \\ \hline 2-Jan & & & \\ \hline 3-Jan & & & \\ \hline 7-Jan & & & \\ \hline 10-Jan & & & \\ \hline 22-Jan & & & \\ \hline 31-Jan & & & \\ \hline \end{tabular} \begin{tabular}{|r|c|l|l|} \hline Transaction & \multicolumn{1}{|c|}{\begin{tabular}{c} Monsters Inc. \\ Account \end{tabular}} & Debit & Credit \\ \hline 1-Jan & & & \\ \hline 2-Jan & & & \\ \hline 3-Jan & & & \\ \hline 7-Jan & & & \\ \hline 10-Jan & & & \\ \hline 22-Jan & & & \\ \hline 31-Jan & & & \\ \hline \end{tabular} Select Retailer/Merchandiser-Related Transactions: 1-Jan Monsters Inc. purchased merchandise on account from Star Trek Enterprises Terms: FOB shipping point Discount 3% if paid in 10 days, otherwise, n/45 COGS: $10,250 2-Jan Monsters Inc. pays freight $575 3-Jan Monsters Inc. purchased additional merchandise on account from Star Trek Enterprises Terms: FOB destination Discount 1% if paid in 10 days, otherwise, n/45 COGS: $2,300 7-Jan Star Trek Enterprises pays freight $125 10-Jan Star Trek Enterprises received payment from Monsters Inc. for purchase on the 1st. 22-Jan Star Trek gave Monsters Inc. a credit for damaged merchandise from purchase on the 3rd 31-Jan Star Trek Enterprises received payment from Monsters Inc. for purchase on the 3rd. Input instructions: Journal Entries: If cash is received, make it the first debit in the entry If cash is paid, make it the last credit in the entry Debits are listed first, credits are listed second $225 (Difference between debits and credits - you want this to be $0 ) (Difference between debits and credits - you want this to be $0 ) \begin{tabular}{|c|c|c|c|c|c|} \hline \multicolumn{6}{|c|}{\begin{tabular}{l} Monsters Inc. \\ Statement of Stockholder's Equity \\ For period ending July 31 , current year \end{tabular}} \\ \hline \multicolumn{3}{|c|}{ Common Stock } & Retained Earnings & \multicolumn{2}{|c|}{ Total } \\ \hline Beginning of Period & $ & 2,400 & & $ & 2,400 \\ \hline Net Income & & & & $ & - \\ \hline Dividends & & & & $ & - \\ \hline Stock Additions & $ & 185,523.00 & & $ & 185,523 \\ \hline End of Period, December 31 & & 2,400 & & $ & 2,400 \\ \hline \end{tabular} \begin{tabular}{|r|l|l|l|} \hline Transaction & \multicolumn{1}{|c|}{ Star Trek Enterprises } & Debit & Credit \\ \hline 1-Jan & Sales Revenue & & \\ \hline 2-Jan & & & \\ \hline 3-Jan & & & \\ \hline 7-Jan & & & \\ \hline 10-Jan & & & \\ \hline 22-Jan & & & \\ \hline 31-Jan & & & \\ \hline \end{tabular} \begin{tabular}{|r|c|l|l|} \hline Transaction & \multicolumn{1}{|c|}{\begin{tabular}{c} Monsters Inc. \\ Account \end{tabular}} & Debit & Credit \\ \hline 1-Jan & & & \\ \hline 2-Jan & & & \\ \hline 3-Jan & & & \\ \hline 7-Jan & & & \\ \hline 10-Jan & & & \\ \hline 22-Jan & & & \\ \hline 31-Jan & & & \\ \hline \end{tabular}