Question

The following selected transactions were completed by Suzy Co. during October of the current year, using the perpetual inventory system.
Oct. 1. Purchased merchandise from Wood Co., $15,500, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $400 was added to the invoice.
5. Purchased merchandise from Davis Co., $14,150, terms FOB destination, n/30.
10. Paid Wood Co. for invoice of October 1, less discount.
18. Purchased merchandise from Smith Company, $12,250, terms FOB shipping point, n/eom.
18. Paid freight of $180 on October 18 purchase from Smith Company.
31. Paid Smith Company for invoice of October 18.
31. Paid Davis Co. for invoice of October 5.
Instructions
Journalize the entries to record the transactions of Suzy Co. for October.


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  • CreatedSeptember 15, 2015
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