Jackie's Toy Shop completed the following merchandise transactions in the month of April:
201X
Apr. 2
Purchased merchandise on account from Irwin Suppliers, $2,500; terms 3/10, n/30.
4 Sold merchandise on account, $500; terms 3/10, n/30. The cost of the merchandise sold was $330.
4 Received credit from Irwin Suppliers for merchandise returned, $230.
10 Received collection in full, less discounts, from April 4 sales.
11 Paid Irwin Suppliers in full, less discount.
14 Purchased store equipment for cash, $250.
15 Purchased $1,000 of merchandise from Foley Distribution for cash.
16 Received a refund due to defective merchandise from supplier on cash purchase of $90.
17 Purchased merchandise on account from Thompson Corp., $3,600, F.O.B. shipping point (buyer pays freight); terms 3/10, n/30. Freight to be paid on
April 21.
18 Sold merchandise for $3,300 cash; the cost of merchandise sold was $1,550.
21 Paid freight on April 17 purchase, $120.
25 Purchased merchandise on account from Boute Co., $1,240, F.O.B. destination (seller pays freight); terms 3/10, n/30.
26 Paid Thompson Corp. in full, less discount.
27 Made refunds to cash customers for defective toys, $250. The cost of the defective toys was $110.
Jackie's Toy Shop accounts included the following: Cash 101; Accounts
Receivable 112; Merchandise Inventory 120; Store Equipment 124;
Accounts Payable 201; J. Jackie, Capital 301; Sales 401; Sales Discounts
412; Sales Returns and Allowances 414; Cost of Goods Sold 501.
Assignment
Journalize the transactions using a perpetual inventory system.