Question: How do you do the journal entries? A) NewCo ordered $15,500 in merchandise from SupplyCo on account, terms 2/10 n30, FOB shipping point. They shipped

How do you do the journal entries?

A) NewCo ordered $15,500 in merchandise from SupplyCo on account, terms 2/10 n30, FOB shipping point. They shipped 1/25/2019, were received 2/5/2019.

B) Purchased merchandise costing $30,000 from SupplyCo on account.

C) Inventory remaining on hand at 1/31/2019 had a cost of $21,000 and sales value of $42,000.

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