chapter 5 earning Objectives 1, 2. B Journalizing purchase and sale transactions Journalize the followinge Amusements accounEs Ps-40B Pre The ad PS-39B pu cransactions that occurred in January 2015 for T nach accounts payble aed Jan. 14 Mench, Inv. $173 ents No explanations are needed. Identify each ts recelvable with the vendor or customer name.payable account from Villanueva Company, Jan 4 Purchased merchandise inverntory on $11,520 Terms 3/10, IVEOM, FOB shipping point. 6 Paid freight bill of $140 on January 4 purchase 8 Returned half the inventory purchased on January from Villanueva sod mechandise inventory for cash 51,440. Cost of 11 Sold merchandise inventory to Gillespie Corporation, $12,300, on terms of 1/10, VEOM Cost of goods, 56,600. FOB shipping point 12 Paid freight bill of $50 on January 10 sale. 13 Sold merchandise inventory to Calhoun Compamy, $11,800, on account of 2/15, n/45. Cost of goods, $6,360. FOB shipping point. Paid the amount owed on account from January 4, less return 16 After negotiations, granted a $300 allowance to Gillespie Corporation on 14 January 11 sale r from te linuaty 13 stl $720. Cost of goods, $540 18 Purchased inventory of $4,920 on account from Rocha Corporation. Payment 20 26 28 29 terms were 2/10, n/30, FO8 destination. Received cash from Gillespie Corporation, less allowance and discount Paid amount owed on account from January 18, less discount. Received cash from Calhoun Company, less return and discount. Purchased inventory from Sexton Corporation for cash, $14,400, FOB shipping point. Freight in paid to shipping company, $240