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Solve this problems please help Nakayama Company, which uses the periodic inventory system, engaged in the following transactions in July: ulySold merchandise to Bernice Wilson
Solve this problems please help Nakayama Company, which uses the periodic inventory system, engaged in the following transactions in July: ulySold merchandise to Bernice Wilson on credit, terms 2/10, n/30, $2,100. d merchandise on credit from Simic Company, terms 2/10, n/30, FOB shipping point, $3,800. 0 5 Paid Banner Freight for freight charges on merchandise received, $290 6 Purchased store supplies on credit from Ha 7 Purchased merchandise on credit from, Kroll Company, terms 2/10, n/30, FOB shipping point, $2,400. 7 Paid Banner Freight for freight charges on merchandise received, $194 8 Purchased merchandise on credit from Salinas Company, terms 2/10, n/30, FOB shipping point, $3,600, including es Supply Company, terms n/20, $636. $200 freight costs paid by Salinas Company 9 Received full payment from Bernice Wilson for her July 1 purchase 10 Paid Simic Company for purchase of July 3. 12 Returned some of the merchandise received on July 7 for credit, $600. 15 Sold merchandise on credit to Marc Singer, terms 2/10, n/30, $1,200. 16 Returned some of the store supplies purchased on July 6 for credit, $200 17 Sold merchandise for cash, $1,000. 18 Paid Salinas Company for purchase of July 8 24 Paid Kroil Company for purchase of July 7 less return of July 12. 25 Received full payment from Marc Singer for his July 15 purchase. 27 Paid Hayes Supply Company for purchase of July 6 less return on July 16 9 3 6 1 . Prepare general journal entries to record the transactions, assuming purchases are recorded 31 Sold merchandise for cash, $1,350. at the gross purchase price g100
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