The following selected transactions were completed by Air Systems Company during January of the current year. Air Systems Company uses the periodic inventory system.

Jan. $2$ Purchased $$19,400$ of merchandise on account, FOB shipping point, terms $2/15,$ n$/30.$

$5$ Paid freight of $$150$ on the January $2$ purchase.

$6$ Returned $$3,250$ of the merchandise purchased on January $2.$

$13$ Sold merchandise on account, $$48,600,$ FOB destination, $1/10,$ n$/30.$ The cost of merchandise sold was $$22,150.$

$15$ Paid freight of $$180$ for the merchandise sold on January $13.$

$17$ Paid for the purchase of January $2$ less the return and discount.

$23$ Received payment on account for the sale of January $13$ less the discount.

Journalize the entries to record the transactions of Air Systems Company. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries.

CHART OF ACCOUNTS

Air Systems Company

General Ledger

ASSETS

$110$ Cash

$120$ Accounts Receivable

$125$ Notes Receivable

$130$ Merchandise Inventory

$140$ Office Supplies

$141$ Store Supplies

$142$ Prepaid Insurance

$180$ Land

$192$ Store Equipment

$193$ Accumulated Depreciation$-$Store Equipment

$194$ Office Equipment

$195$ Accumulated Depreciation$-$Office Equipment

LIABILITIES

$210$ Accounts Payable

$216$ Salaries Payable

$218$ Sales Tax Payable

$219$ Customers Refunds Payable

$220$ Unearned Rent

$221$ Notes Payable

EQUITY

$310$ Owner, Capital

$311$ Owner, Drawing

$312$ Income Summary

REVENUE

$410$ Sales

$610$ Rent Revenue

EXPENSES

$510$ Purchases

$511$ Purchases Returns and Allowances

$512$ Purchases Discounts

$513$ Freight In

$521$ Delivery Expense

$522$ Advertising Expense

$524$ Depreciation Expense$-$Store Equipment

$525$ Depreciation Expense$-$Office Equipment

$526$ Salaries Expense

$531$ Rent Expense

$533$ Insurance Expense

$534$ Store Supplies Expense

$535$ Office Supplies Expense

$536$ Credit Card Expense

$539$ Miscellaneous Expense

$710$ Interest Expense