Journalize the following transactions that occurred in September 2016 for Cardinal. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name.
Sep. 3 Purchased merchandise inventory on account from Sherry Wholesalers, $4,000. Terms 1/15, n/EOM, FOB shipping point.
4 Paid freight bill of $75 on September 3 purchase.
4 Purchased merchandise inventory for cash of $1,900.
6 Returned $1,100 of inventory from September 3 purchase.
8 Sold merchandise inventory to Houston Company, $5,500, on account. Terms 3/15, n/35. Cost of goods, $2,365.
9 Purchased merchandise inventory on account from Tarin Wholesalers, $12,000. Terms 3/10, n/30, FOB destination.
10 Made payment to Sherry Wholesalers for goods purchased on September 3, less return and discount.
12 Received payment from Houston Company, less discount.
13 After negotiations, received a $200 allowance from Tarin Wholesalers.
15 Sold merchandise inventory to Java Company, $3,300, on account. Terms 2/10, n/EOM. Cost of goods, $1,320.
22 Made payment, less allowance, to Tarin Wholesalers for goods purchased on September 9.
23 Java Company returned $900 of the merchandise sold on September 15. Cost of goods, $360.
25 Sold merchandise inventory to Smecker for $1,900 on account that cost $722. Terms of 1/10, n/30 was offered, FOB shipping point. As a courtesy to Smecker,
$85 of freight was added to the invoice for which cash was paid by Cardinal.
26 After negotiations, granted a $200 allowance to Smecker for merchandise purchased on September 25.
29 Received payment from Smecker, less allowance and discount.
30 Received payment from Java Company, less return.