2. Journalize the following transactions that occurred in November 2023 for Jill's Water World, assuming the...

 

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2. Journalize the following transactions that occurred in November 2023 for Jill's Water World, assuming the perpetual inventory system is being used. Identify each accounts payable and accounts receivable with the vendor or customer name. Jill's Water World estimates sales returns at the end of each month. Nov. 4 6 489 10 11 12 Purchased merchandise inventory on account from Venice Company, $6,000. Terms 2/10, n/EOM, FOB shipping point. Paid freight bill of $190 on November 4 purchase. Returned half of the inventory purchased on November 4 from Venice Company. Sold merchandise inventory for cash, $1,700. Cost of goods, $680. FOB destination. Sold merchandise inventory to Garland Corporation, $10,600, on account. Terms 3/10, n/EOM. Cost of goods $5,300. FOB shipping point. Paid freight bill of $40 on November 10 sale. 13 Sold merchandise inventory to Cador Company for $8,700 on account, terms of, n/45. Cost of goods $4,350. FOB shipping point. 14 17 18 20 26 2222 28 29 Paid the amount owed on account from November 4, less return and discount. Received defective inventory as a sales return from the November 13 sale, $ 600. Cost of goods, $ 300. Purchased inventory of $3,700 on account from Ruffman Corporation. Payment terms were 1/10, n/30, FOB destination. Received cash from Garland Corporation, less discount. Paid amount owed on account from November 18, less discount. Received cash from Cador Company, less return. Purchased inventory from Suarez Corporation for cash, $11,800, FOB shipping point. Freight in paid to shipping company, $150. 2. Journalize the following transactions that occurred in November 2023 for Jill's Water World, assuming the perpetual inventory system is being used. Identify each accounts payable and accounts receivable with the vendor or customer name. Jill's Water World estimates sales returns at the end of each month. Nov. 4 6 489 10 11 12 Purchased merchandise inventory on account from Venice Company, $6,000. Terms 2/10, n/EOM, FOB shipping point. Paid freight bill of $190 on November 4 purchase. Returned half of the inventory purchased on November 4 from Venice Company. Sold merchandise inventory for cash, $1,700. Cost of goods, $680. FOB destination. Sold merchandise inventory to Garland Corporation, $10,600, on account. Terms 3/10, n/EOM. Cost of goods $5,300. FOB shipping point. Paid freight bill of $40 on November 10 sale. 13 Sold merchandise inventory to Cador Company for $8,700 on account, terms of, n/45. Cost of goods $4,350. FOB shipping point. 14 17 18 20 26 2222 28 29 Paid the amount owed on account from November 4, less return and discount. Received defective inventory as a sales return from the November 13 sale, $ 600. Cost of goods, $ 300. Purchased inventory of $3,700 on account from Ruffman Corporation. Payment terms were 1/10, n/30, FOB destination. Received cash from Garland Corporation, less discount. Paid amount owed on account from November 18, less discount. Received cash from Cador Company, less return. Purchased inventory from Suarez Corporation for cash, $11,800, FOB shipping point. Freight in paid to shipping company, $150.