TERMS: DISCOUNTING & FREIGHT (TOPIC-SPECIFIC PROBLEMS)

Journalize the following independent transactions both in the books of Yaki Co. and Arjie Co. For this problem, you can dispose the requirement of placing the Name of customer/supplier in every after AR/AP account.

1. On January 1, Yaki Co. sold three pounds of Marie Juan, a herbal medicine product, to Arjie Co. for P10,000. Terms: 2/10, 1/20, n/30. It was paid by Arjie on January 11.

2. On January 1, Yaki Co. sold three pounds of Marie Juan, a herbal medicine product, to Arjie Co. for P10,000. Furthermore, Yaki Co. gave out a 20% trade discount because Arjie Co. is a close friend. Terms: 2/10, 1/20, n/30. It was paid by Arjie on January 12.

3. On January 1, Yaki Co. sold three pounds of Marie Juan, a herbal medicine product, to Arjie Co. for P10,000. Furthermore, Yaki Co. gave out a 20% and 10% trade discount because Arjie Co. is a close friend. Terms: 2/10, 1/20, n/30. It was paid by Arjie on January 22.

4. On January 1, Yaki Co. sold three pounds of Marie Juan, a herbal medicine product, to Arjie Co. for P10,000. Furthermore, Yaki Co. gave out a 20% and 10% trade discount because Arjie Co. is a close friend. Terms: 2/10, 1/20, n/30. On January 7, Arjie Co. then return P3000 worth of goods (list price) to Yaki Co. It was paid by Arjie Co. on January 13.

5. On January 1, Yaki Co. sold three pounds of Marie Juan, a herbal medicine product, to Arjie Co. for P10,000. Terms: 2/10, 1/20, n/30; FOB Shipping Point, Freight Collect. Freight of P500 was paid by Arjie on January 3, upon receipt of goods. Goods were paid by Arjie Co. on January 13.

6. On January 1, Yaki Co. sold three pounds of Marie Juan, a herbal medicine product, to Arjie Co. for P10,000. Furthermore, Yaki Co. gave out a 20% trade discount because Arjie Co. is a close friend. Terms: 2/10, 1/20, n/30; Freight Destination, Freight Prepaid. Freight is P500. Arjie Co. received the shipment on January 3. It was paid by Arjie on January 17.

7. On January 1, Yaki Co. sold three pounds of Marie Juan, a herbal medicine product, to Arjie Co. for P10,000. Furthermore, Yaki Co. gave out a 20% and 10% trade discount because Arjie Co. is a close friend. Terms: 2/10, 1/20, n/30, FOB Shipping Point, Freight Prepaid. Freight is P500. Arjie Co. received the shipment on January 3. It was paid by Arjie on January 26.

8. On January 1, Yaki Co. sold three pounds of Marie Juan, a herbal medicine product, to Arjie Co. for P10,000. Furthermore, Yaki Co. gave out a 20% and 10% trade discount because Arjie Co. is a close friend. Terms: 2/10, 1/20, n/30. FOB Destination, Freight Collect. Frieght of P500 was paid by Arjie on January 3, upon the receipt of goods. On January 7, Arjie Co. then return P3000 worth of goods (list price) to Yaki Co. It was paid by Arjie Co. on January 13.

9. On January 1, Yaki Co. sold three pounds of Marie Juan, a herbal medicine product, to Arjie Co. for P10,000. Furthermore, Yaki Co. gave out a 20% and 10% trade discount because Arjie Co. is a close friend. Terms: 2/10, 1/20, n/30. FOB Shipping Point, Freight Prepaid. Freight is P500. Arjie Co. Received the goods on January 3. On January 7, Arjie Co. then return P3000 worth of goods (list price) to Yaki Co. It was paid by Arjie Co. on January 13.