Question: E - F: 5 - 2 5 Journalizing purchase and sales transactions Journalize the following transactions for Mountain Home Art Gift Shop. Explanations are not

E-F:5-25 Journalizing purchase and sales transactions
Journalize the following transactions for Mountain Home Art Gift Shop. Explanations are not required.
Feb. 3 Purchased $2,800 of merchandise inventory on account under terms 3/10,nEOM and FOB shipping point from Calm Waters Herbs.
7 Returned $700 of defective merchandise purchased on February 3.
9 Paid freight bill of $400 on February 3 purchase.
10 Sold merchandise inventory on account for $4,800 to Namaste Yoga Studio. Payment terms were 115,n30. These goods cost the company $2,400.
12 Paid amount owed on credit purchase of February 3, less the return and the discount.
16 Granted a sales allowance of $100 on the February 10 sale.
23 Received cash from Namaste Yoga Studio in full settlement of its debt, less the allowance and the discount.
E - F: 5 - 2 5 Journalizing purchase and sales

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