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The following were selected from among the transactions completed by Stevens Company during March of the current year, journalize the transactions. March 2. Purchased merchandise
The following were selected from among the transactions completed by Stevens Company during March of the current year, journalize the transactions. March 2. Purchased merchandise on account from Doyle Co. List price $15,000, trade discount 20%, terms FOB Shipping point, 2/10,n/30 with prepaid transportation costs of $720 added to the invoice. Purchased merchandise on account from Annex Co.,$6,000, terms FOB destination 1/10,n/30. Sold merchandise on account to C.F. Howell Co., list price $4000, Trade discount 30%, terms 2/10,n/30. The cost of the merchandise sold was 1,125. Received cash on account from sales of Mar. 6 to C.F. Howell Co. less discount. Sold merchandise on nonbank credit cards and reported accounts to the card company.$3,450. The Cost of merchandise sold was $1,950. Received Cash from card company for nonbank credit card sales of March 19, less $340 service fee
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