(SIN to) Calming Creations Gift Shop uses a perpetual inventory system. Journalize the following transactions for Calming Creations Gift Shc Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar.) (Click the icon to view the transactions.) More Info - * FOB shipping point from Sarah's Folly edit 2,500 Feb. 3 Purchased $2,500 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point from Sarah's Folly. Feb. 7 Returned $500 of defective merchandise purchased on February 3. Feb. 9 Paid freight bill of $200 on February 3 purchase. Feb. 10 Sold merchandise inventory on account for $4,200 to Tiger Wellness Center. Payment terms were 2/15, n/30. These goods cost the company $2,100. Feb. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. Feb. 28 Received cash from Tiger Wellness Center in full settlement of their debt. fedit 500 Print Done Date Accounts Debit Credit Fob. 9 Merchandise Inventory 200 Cash 200 3 of 7 (3 complete) %EF5-24 (similar to) Calming Creations Gift Shop uses a perpetual inventory system. Journalize the following transactions for Calming Creations Gift Shop. Explanation Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar.) Click the icon to view the transactions.) Feb. 3: Purchased $2,500 of merchandise inventory on account under terms 2/10,n/EOM and FOB shipping point from Sarah's Folly. Date Accounts Debit Feb. 3 Credit Merchandise Inventory Accounts PayableSarah's Folly 2,500 2,500 Feb. 7: Returned $500 of defective merchandise purchased on February 3. Date Debit Credit Feb. 7 Accounts Accounts Payable_Sarah's Folly Merchandise Inventory 500 500 . Feb. 9. Paid freight bill of $200 on February 3 purchase. Date Dobit Credit Feb. 9 Accounts Merchandise Inventory Cash 200 200 Choose from any list or enter any number in the input fields and then click Check Answer. Score: 4.81 of 7 pts 3 of 7 (3 complete) BEF5-24 (similar to) Calming Creations Gift Shop uses a perpetual inventory system. Journalize the following transactions for Calming Creations Gift Shop. Explanations are not required Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar) Click the icon to view the transactions.) Feb. 9: Paid freight bill of $200 on February 3 purchase. Date Accounts Debit Credit Feb. 9 Merchandise Inventory 200 Cash 200 Feb. 10: Sold merchandise inventory on account for $4,200 to Tiger Wellness Center. Payment terms were 2/15, 1/30. These goods cost the company $2,100 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 Feb. 10 Accounts ReceivableTiger Wellness Center 4.116 Sales Revenue 4,1169 Now journalize the expense related to the February 10 saleCost of goods, $2,100. Dato Accounts Debit Credit Feb. 10 2.100 Cost of Goods Sold Merchandise Inventory 2,100 Choose from any list or enter any number in the input fields and then click Check Answer. Clear All All parts showing 3 of 7 (3 complete) BEF5-24 (similar to) Calming Creations Gift Shop uses a perpetual inventory system. Journalize the following transactions for Calming Creations G Shop. Explanations are not required. (Record debitsfest Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar.) (Click the icon to view the transactions.) Now journalize the expense related to the February 10 saleCost of goods. $2,100 Date Accounts Debit Feb. 10 Cost of Goods Sold Credit 2.100 Merchandise Inventory 2,100 Feb. 12: Paid amount owed on credit purchase of February 3, less the return and the discount Date Debit Credit Feb, 12 Accounts Accounts Payable-Sarah's Folly Cash Merchandise Inventory 2,000 1,960 40 Feb. 28: Received cash from Tiger Wellness Center in full settlement of their debt. Date Accounts Debit Credit Feb. 28 Choose from any list or enter any number in the input fields and then click Check Answer All parts showing Clear All MacBook Pro