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The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to other businesses and occasionally to retail customers Record
The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to other businesses and occasionally to retail customers Record on page 10 of the journal Mar 21 3 5 14 16 Sold merchandise on account to Equinox Co., $18,900, terms FOB destination, n/30. The cost of the goods sold was $13,300 Sold merchandise for $11,350 plus 6% sales tax to retail cash customers. The cost of the goods sold 18: was $7,000 Sold merchandise on account to Empire Co., $55,400, terms EOB shipping point, neom. The cost of the goods sold was $33,200. Sold merchandise for $30,000 to retail customers who used MasterCard. The cost of the goods sold was $19,400. The printed receipts for retail customers included a coupon for $2 off the customer's next purchase. It is estimated that 2,000 of the coupons will be redeemed. Create a compound journal entry for the sale and coupon payable estimate Sold $18,000 of merchandise to retail customers who used MasterCard and who redeemed 850 of the $2 coupons issued on March 5 The cost of the goods sold was $10.500 Sold merchandise on account to Targhee Co, $27,500, terms FOB shipping point, n/30. The cost of the goods sold was $16,000 Issued credit memo to Targhee Co. for merchandise with an invoice amount of $4,000 returned from sale on March 16. The cost of the merchandise returned was $2.900 Record on page 11 of the journal Mari 19 31 Sold merchandise on account to Vista Co. $8.250, terms FOB shipping point, neom Added $75 to the i invoice for prepaid freight. The cost of the goods sold was $5,000 Record the freight as a separate transaction Received check for amount due from Vista Co. for sale of March 19
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