Journal entries are required July JnA A 4 Purchased merchandise from Jones Company for $12,000 under
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July ↑ JnA A 4 Purchased merchandise from Jones Company for $12,000 under credit terms of 1/15, n/30, FOB factory. Sold-merchandise to Terra Co. for $1,600 under credit terms of 2/10, n/60, FOB shipping point. The merchandise had cost $1,0QQ. 3. Paid $200 for freight charges on the purchase of July 1. Sold merchandise that cost $2,400 for $3,200 cash. Purchased merchandise from Keene Co. for $4,600 under credit terms of 2/15, n/60, FOB destination. 12 Received a $400 credit memorandum acknowledging the return of merchandise purchased on July 9. Received the balance due from Terra Co. for the credit sale dated July 2. Purchased office supplies from EastCo on credit, $960, n/30. Paid the balance due to Jones Company. Sold merchandise that cost $1,800 to Urban Co. for $2,500 under credit terms of 2/15, n/60, FOB shipping point. Issued a $300 credit memorandum to Urban Co. for an allowance on goods sold on 19. 22//Received a debit memorandum from Urban Co. for an error that overstated the total invoice by $100. Paid Keene Co. the balance due. 2 12 13 16 19 21 29 30 31 Received the balance due from Urban Co. for the credit sale dated July 19. Sold merchandise that cost $6,400 to Terra Co. for $10,000 under credit terms of 2/10, n/60, FOB shipping point. July ↑ JnA A 4 Purchased merchandise from Jones Company for $12,000 under credit terms of 1/15, n/30, FOB factory. Sold-merchandise to Terra Co. for $1,600 under credit terms of 2/10, n/60, FOB shipping point. The merchandise had cost $1,0QQ. 3. Paid $200 for freight charges on the purchase of July 1. Sold merchandise that cost $2,400 for $3,200 cash. Purchased merchandise from Keene Co. for $4,600 under credit terms of 2/15, n/60, FOB destination. 12 Received a $400 credit memorandum acknowledging the return of merchandise purchased on July 9. Received the balance due from Terra Co. for the credit sale dated July 2. Purchased office supplies from EastCo on credit, $960, n/30. Paid the balance due to Jones Company. Sold merchandise that cost $1,800 to Urban Co. for $2,500 under credit terms of 2/15, n/60, FOB shipping point. Issued a $300 credit memorandum to Urban Co. for an allowance on goods sold on 19. 22//Received a debit memorandum from Urban Co. for an error that overstated the total invoice by $100. Paid Keene Co. the balance due. 2 12 13 16 19 21 29 30 31 Received the balance due from Urban Co. for the credit sale dated July 19. Sold merchandise that cost $6,400 to Terra Co. for $10,000 under credit terms of 2/10, n/60, FOB shipping point.
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