Campus Stop, Incorporated, is a student co-op. On January 1, 2009, the beginning inventory was

$150,000, the Accounts Receivable balance was $4,000, and the Allowance for Doubtful Accounts had a credit balance of $800. Campus Stop uses a perpetual inventory system and records inventory purchases using the gross method.

The following transactions (summarized) have been selected from 2009 for case purposes:

Required:
Prepare journal entries for each of the preceding transactions.

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a. Sold merchandise for cash (cost of sales $137,500) b. Received merchandise returned by customers as unsatisfactory, for cash refund (cost of sales $800) Purchased merchandise from vendors on credit; terms 3/10, n/30 as follows: $275,000 1,600 c. August Supply Company invoice price before deduction of cash discount d. Other vendors, invoice price before deduction of cash discount 5,000 120,000 e. Purchased equipment for use in store; paid cash f. Purchased office supplies for future use in the store; paid cash g. Freight on merchandise purchased; paid cash Paid accounts payable in full during the period as follows: h. Paid August Supply Company after the discount period i. Paid other vendors within the 3% discount period 2,200 700 400 5.000 116,400