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fucation Table of Contents- CONTENTS List of Tal 360 | Basic Financial Accounting and Reporting by Prof. WIN Ballada NAME: SCORE: SECTION: PROFESSOR: Problem #15 Journalizing Merchandising Transactions Marichu Fornolles Novelties engaged in the following transactions in December 2026: Dec. 7 Sold merchandise on credit to Caindec Store, terms n/30, FOB shipping point, P30,000. 8 Purchased merchandise on credit from Kho Traders, terms n/30, FOB shipping point, P60,000. 9 Paid Dinopol Freight for shipping charges on merchandise purchased on Dec. 8, P254. 10 Purchased merchandise on credit from Magallanes Importers, terms n/30, FOB shipping point, P95,400. Freight costs of P600 paid by Magallanes. 13 Purchased office supplies on credit from Carlos Supplies, terms n/10, P24,000. 14 Sold merchandise on credit to Zosa Gifts, terms n/30, FOB shipping point, P24,000. 14 Returned damaged merchandise received from Kho Traders on Dec. 8 for credit, P6,000. 17 Received check from Caindec Store for his purchase of Dec. 7. 18 Returned a portion of the office supplies received on Dec. 13 for credit because the wrong items were sent, P4,000. 19 Sold merchandise for cash, P18,000. 20 Paid Magallanes Importers for the purchase on Dec. 10. 21 Paid Kho Traders the balance from transactions of Dec. 8 and 14. 24 Accepted from Zosa Gifts a return of merchandise, P2,000. Required: Prepare the journal entries. Freight terms Freight collect - This means that the freight che Same shipped is not yet paidProblem #21 The table below contains portions of the income statements of four different companies: H N m Net Sales 100,000 200,000 240,000 Beginning Inventory 15,000 12,000 30,000 Net Cost of Purchases 55,000 125,000 95,000 @ 4 Goods Available for Sale 145,000 Ending Inventory 10,000 25,000 Cost of Goods Sold 40,000 Gross Profit 90,000 85,000 130,000 Required: Replace the lettered blanks with the appropriate amounts.ducation SCI F CONTENTS Table of Contents-....--. List of Tables- Char TES 358 | Basic Financial Accounting and Reporting by Prof. WIN Ballada NAME: SCORE: SECTION: PROFESSOR: Problem #13 Journalizing Merchandising Transactions Lenore Loqueque Homewares engaged in the following transactions in October: Oct. 7 Sold merchandise on credit to Lacson Co., terms n/30, FOB shipping point, P30,00. 8 Purchased merchandise on credit from Orcajada Co., terms n/30, FOB shipping point, P60,000. 9 Paid Mendoza Co. for shipping charges on merchandise purchased on Oct. 8, P2,540. 10 Purchased merchandise on credit from Ortiz Co., terms n/30, FOB shipping, P90,000. Freight prepaid by Ortiz, P6,000. 13 Purchased office supplies on credit from Isagan Co., terms n/10, P24,000. 14 Sold merchandise on credit to Pabelico Co., terms n/30, FOB shipping, P24,000. 14 Returned damaged merchandise received from Orcajada Co. on Oct. 8 for credit, P6,000. 17 Received check payment from Lacson Co. for his purchase on Oct. 7. 18 Returned a portion of the office supplies received on Oct. 13 for credit, P4,000. 19 Sold merchandise for cash, P18,000. 20 Paid Ortiz Co. for purchase of Oct. 10. 21 Paid Orcajada Co. the balance from the transaction on Oct. 8 and 14. 24 Accepted from Pabelico Co. a return of merchandise, P2,000. Required: Prepare the journal entries. Freight terms Freight coll. Co