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Transactions for December: I Enter the following transactions on Journal page 21 . e Dec. 1 - Paid rent for December of $3,000. Dec. 2
Transactions for December: I Enter the following transactions on Journal page 21 . e Dec. 1 - Paid rent for December of $3,000. Dec. 2 - Paid utility bill $975. Dec. 3 - Purchased merchandise on account from Shoe Fit Co., terms 2/10, n/30, FOB shipping point for $30,000. Dec. 4 - Paid freight of $800 on December 3 purchase. Dec. 6 - Sold merchandise on account to Athlete Gear, terms 2/10, n/30, FOB shipping point, $28,500. The cost of the merchandise sold was $20,000. Dec. 7- Received $15,200 cash from Runner's Depot on account. Dec. 10 - Sold merchandise for cash $14,000. The cost of the merchandise sold was $9.100. Dec. 13 - Paid for merchandise purchased on December 3. Dec. 15 - Paid advertising expense for last half of month of $800. Dec. 16 - Received cash from sale on December 6. Dec. 17 - Purchased merchandise for cash, $18,700. . . Enter the following transactions on Journal page 22 Enter the following transactions on Journal page 22 Dec. 18 - Paid $11,500 to Discount Shoes on account. Dec. 20 - Sold merchandise on account to Jen's Shoe Co., terms 1/10, n/30, FOB shipping point, $40,000. The cost of the merchandise sold was $26,000. Dec. 21 For the convenience of Jen's Shoe Co., paid freight of $900 on December 20 sale and added to their account. Dec. 22 - Purchased merchandise on account from Nature Co., terms 1/10, n/30, FOB destination, $25,000. Dec. 24 - Returned $5,000 of damaged merchandise purchased on December 22, receiving credit from the seller. Dec. 25 - Refunded cash on sales made for cash of $7,500. The cost of the merchandise returned was $4,800. Dec. 26 Paid wages of $12,000. Dec. 28 - Purchased supplies for cash, $1,500. Dec. 29 - Sold merchandise on account to Outdoor Team Inc., terms 2/10, n/30, FOB shipping point, $68,500. The cost of the merchandise sold was $42,600. Dec. 30 - Received cash from sale on December 20, plus freight paid on December 21. Dec. 31 - Paid for purchase on December 22, less return on December 24
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