Sep 12: Received payment from Hayes Company, less discount. Accounts Debit Date Credit Sep. 12 Cash 48 Purchase Discounts - Sep. 3 Sep. 4 Sep. 4 Sep. 6 Sep. 8 Sep. 9 Purchased merchandise inventory on account from Simmon Wholesalers, $4,500. Terms 1/15, n/EOM, FOB shipping point. Paid freight bill of $90 on September 3 purchase. Purchase merchandise inventory for cash of $1,500. Returned $900 of inventory from September 3 purchase. Sold merchandise inventory to Hayes Company, $6,000, on account. Terms 2/15, n/35. Cost of golds, $2,400. Purchased merchandise inventory on account from Taylor Wholesalers, $10,000. Terms 2/10, n/30, FOB destination. Made payment to Simmon Wholesalers for goods purchased on September 3, less return and discount. Received payment from Hayes Company, less discount. After negotiations, received a $250 allowance from Taylor Wholesalers. Sold merchandise inventory to Jackson Company, $3,500, on account. Terms n/EOM. Cost of goods, $1,645. Made payment, less allowance, to Taylor Wholesalers for goods purchased on September 9. Jackson Company returned $1,000 of the merchandise sold on September 15. Cost of Sep. 10 Sep. 12 Sep. 13 Sep. 15 Sep. 22 Sep. 23 goods, $470. Sep. 10: Made payment to Simmon Wholesalers for goods purchased on September 3, less return and discount. Date Accounts Debit Credit Sep. 10 3,600 Accounts Payable-Simmon Wholesalers Cash Merchandise Inventory 3,564 36 Sep. 8: Sold merchandise inventory to Hayes Company, S6,000, on account. Terms 2/15, 1/35. Cost of goods, $2,400, Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following stop. Date Accounts Credit Sep. 8 Accounts Receivable-Hayes Company 5,880 Sales Revenue 5,880 Debit