The following listing summarizes Teslas merchandising activities for the year.

Cost of merchandise sold to customers	$	270,000
Merchandise inventory, beginning year		39,204
Cost of merchandise purchases, gross amount		276,804
Shrinkage on merchandise as of year-end		810
Cost of transportation-in for merchandise purchases		2,768
Cost of merchandise returned by customers and restored to inventory		1,950
Discounts received from suppliers on merchandise purchases		2,214
Returns to and allowances from suppliers on merchandise purchases		3,700

Enter the summarized activities in the two T-accounts below.

Following are the merchandising transactions for Dollar Store.

Nov.		1		Dollar Store purchases merchandise for $1,500 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1.
		5		Dollar Store pays cash for the November 1 purchase.
		7		Dollar Store discovers and returns $150 of defective merchandise purchased on November 1, and paid for on November 5, for a cash refund.
		10		Dollar Store pays $75 cash for transportation costs for the November 1 purchase.
		13		Dollar Store sells merchandise for $1,620 with terms n/30. The cost of the merchandise is $810.
		16		Merchandise is returned to the Dollar Store from the November 13 transaction. The returned items are priced at $205 and cost $103 the items were not damaged and were returned to inventory.

Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method.

Enter the summarized activities in the two T-accounts below. Complete this question by entering your answers in the tabs below. Merchandise Inventory Cost of Goods Sold Enter the summarized activities in the T-accounts below. Merchandise Inventory 0 Enter the summarized activities in the two T-accounts below. Complete this question by entering your answers in the tabs below. Merchandise Inventory Cost of Goods Sold Enter the summarized activities in the T-accounts below. Cost of Goods Sold 0 Journal entry worksheet 1 2 3 4 5 6 7 8 Dollar Store purchases merchandise for $1,500 on terms of 2/5, n/30, FOB shipping point, invoice dated November 1. Note: Enter debits before credits. Date General Journal Debit Credit Nov 01 Journal entry worksheet The cost of the merchandise is $810. Note: Enter debits before credits. Date General Journal Debit Credit Nov 13 Journal entry worksheet