\begin{tabular}{clll} Date & \multicolumn{1}{c}{ Account } & Debit & Credit \\ \hline Aug. 25 & Cost of Goods Sold & \\ & Inventory & \end{tabular} Estimated Coupons Payable Sales-related transactions using perpetual inventory system The following selected transactions were completed by Green Lawn Supplies Co., which sells irrigation supplies primarily to other busir customers: July 1. Sold merchandise on account to Landscapes Co., $33,200, terms FOB shipping point, n/ eom. The cost of the goods sold was $20,100. 2. Sold merchandise for $85,000 plus 8% sales tax to retail cash customers. The cost of the goods sold was $51,800. 5. Sold merchandise on account to Peacock Company, $17,500, terms FOB destination, n/30. The cost of the goods sold was $10,400. 8. Sold merchandise for $113,000 to retail customers who used VISA cards. The cost of the goods sold was $67,100. The printed receipts for retail customers included a coupon for $3 off the customer's next purchase. It is estimated that 5,000 of the coupons will be redeemed. 14. Sold merchandise on account to Loeb Co., $16,000, terms FOB shipping point, n/30. The cost of the goods sold was $9,000. 16. Issued credit memo to Loeb Co. for merchandise with an invoice amount of $3,000 returned from the sale on July 14 . The cost of the merchandise returned was $2,000. 18. Sold merchandise on account to Jennings Company, $11,300, terms FOB shipping point, n/30. Paid $475 for freight and added it to the invoice. The cost of the goods sold was $6,600. 20. Sold $130,000 of merchandise to retail customers who used VISA and who redeemed 3,500 of the $3 coupons issued on July 8 . The cost of the goods sold was $82,000. 31. Paid Black Lab Delivery Service $8,700 for merchandise delivered during July to customers under shipping terms of FOB destination. 31. Paid a local newspaper $1,500 for advertising that included point-of-sale coupons for $10 off August purchases of $100 or more. It is estimated that 1,000 of the coupons will be redeemed. Aug. 3. Paid Hays Federal Bank $3,710 for service fees for handling MasterCard and VISA sales during July. 4. Received check for amount due from Peacock Company for sale on July 5. 10. Paid $41,000 to state sales tax division for taxes owed on sales. 13. Received check for amount due from Loeb Co. for sale on July 14 less credit memo of July 16. 17. Received check for amount due from Jennings Company for sale of July 18. 25 . Sold merchandise with a list price of $170,000 to customers using VISA. Customers redeemed 600 of the $10-off coupons distributed on March 31. The cost of the merchandise sold was $103,000. \begin{tabular}{cccc} Date & Account & Debit & Credit \\ \hline Aug. 25 & Cash & & \\ & Sales & & \\ & & \end{tabular}