Sep. 6: Returned $1,100 of inventory from September 3 purchase Date Accounts Debit Credit Sep. 6 Sep. 8: Sold merchandise inventory to Hollingshead Company, $6,400, on account. Terms 1/15, n/35. Cost of goods, $2,880. 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 step. Date Accounts Debit Credit Sep. 8 Now journalize the expense related to the September 8 saleCost of goods, $2,880. Date Accounts Debit Credit Sep. 8 Sep. 9: Purchased merchandise inventory on account from Teaton Wholesalers, $12,000. Terms 1/10, n/30, FOB destination. Date Accounts Debit Credit Sep. 9 Sep. 10: Made payment to Sharp Wholesalers for goods purchased on September 3, less return and discount. Date Accounts Debit Credit Sep. 10 Sep. 12: Received payment from Hollingshead Company, less discount. Date Accounts Debit Credit Sep. 12 Sep. 13: After negotiations, received a $300 allowance from Teaton Wholesalers. Date Accounts Debit Credit Sep 13 Sep. 15: Sold merchandise inventory to Jeter Company, $2,900, on account. Terms n/EOM. Cost of goods, $1,392. 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 step. Date Accounts Debit Credit Sep. 15 Now journalize the expense related to the September 15 saleCost of goods, $1,392. Date Accounts Debit Credit Sep. 15 Sep. 22: Made payment, less allowance to Teaton Wholesalers for goods purchased on September 9. Date Accounts Debit Credit Sep. 22 Sep. 23: Jeter Company returned $400 of the merchandise sold on September 15. Cost of goods, $192. Start by preparing the entry to record the refund and decrease to the receivable. Do not update the Merchandise Inventory with this entry. We will do that in the following step. Date Accounts Debit Credit Sep. 23 Now prepare the entry to update the Merchandise Inventory account for the cost of the returned merchandise -Cost of goods returned. S192. Date Accounts Debit Credit Sep. 23 Sep. 25: Sold merchandise inventory to Secker for $1,500 on account that cost $540. Terms of 1/10,n/30 was offered, FOB shipping point. As a courtesy to Secker. 560 of freight was added to the invoice for which cash was paid by Violet Begin by preparing a compound journal entry to journalize the sale and the full amount of the receivable from this transaction. Do not record the expense related to the sale. We will do that in the following step. (Prepare a compound journal entry.) Date Accounts Debit Credit Sep. 25 Now journalize the expense related to the September 25 saleCost of goods, S540. Date Accounts Debit Credit Sep. 25 Sep. 29: Received payment from Secker, less discount. Date Accounts Debit Credit Sep. 29 Sep. 30: Received payment from Jeter Company, less return. Date Accounts Debit Credit Sep 30 Journalize the following transactions that occurred in September 2018 for Violet, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Violet estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount.) (Click the icon to view the transactions.) Sep. 3: Purchased merchandise inventory on account from Sharp Wholesalers, $7,500. Terms 2/15, n/EOM, FOB shipping point. More Info - X Date Accounts Debit Credit Sep 3 Sep. 4 4 Sep. 4: Paid freight bill of $60 on September 3 purchase. Date Accounts Debit Credit Sep. 4 3 Purchased merchandise inventory on account from Sharp Wholesalers, $7,500. Terms 2/15, n/EOM, FOB shipping point. Paid freight bill of $60 on September 3 purchase. Purchase merchandise inventory for cash of $2,200. 6 Returned $1,100 of inventory from September 3 purchase. 8 Sold merchandise inventory to Hollingshead Company, $6,400, on account Terms 1/15, n/35. Cost of goods, $2,880. 9 Purchased merchandise inventory on account from Teaton Wholesalers, $12,000. Terms 1/10, n/30, FOB destination. 10 Made payment to Sharp Wholesalers for goods purchased on September 3, less return and discount. 12 Received payment from Hollingshead Company, less discount. 13 After negotiations, received a $300 allowance from Teaton Wholesalers. 15 Sold merchandise inventory to Jeter Company, $2,900, on account. Terms n/EOM. Cost of goods, $1,392 22 Made payment, less allowance, to Teaton Wholesalers for goods purchased on September 9. 23 Jeter Company returned $400 of the merchandise sold on September 15. Cost of goods, $192 25 Sold merchandise inventory to Secker for $1,500 on account that cost $540. Terms of 1/10, n/30 was offered, FOB shipping point. As a courtesy to Secker, $60 of freight was added to the invoice for which cash was paid by Violet. 29 Received payment from Secker, less discount. 30 Received payment from Jeter Company, less return. Sep. 4: Purchase merchandise inventory for cash of $2,200. Date Accounts Debit Credit Sep. 4 Sep. 6: Returned $1,100 of inventory from September 3 purchase