In early April, Rose's ledger showed $9,000 in cash and $9,000 in common stock. Rose Company completed these transactions in April.

Apr 2 Merchandise purchased on account of Kwon Supply Co. $6,900, terms 1/10, n/30.

4 Merchandise sold on account $6,500, FOB destination, terms 1/10, n/30 (Cost of goods sold was $3,900.)

5 He paid $240 for freight at the April 4 sale.

6 Received credit from Kwon Supply Co. for $500 returned merchandise.

11 Paid Kwon Supply Co. in full, less discount.

13 Collections received in full, less discounts, from customers billed on April 4.

14 Merchandise purchased for cash $3,800.

16 Refund received from vendor for goods returned on April 14 $500 cash purchase.

18 Merchandise purchased from Davis Co. $4,500, FOB shipping point, terms 2/10, n/30.

20 Freight paid on April 18 purchases $100.

23 He sold merchandise for $7,400 in cash. The merchandise sold had a cost of $4,120.

26 Merchandise purchased for cash $2,300.

27 Davis Distributors paid in full, less discount.

29 Made cash refunds to customers for defective merchandise $90. (The returned merchandise had a fair value of $30.)

30 Merchandise sold on account $3,700, terms n/30. The cost of merchandise sold was $2,800.

Record the transactions

Answer rating: 100% (QA)

Here are the recorded transactions for Rose Company in April Apr 2 Debit Merchandise Inventory 6900 Credit Accounts Payable Kwon Supply Co 6900 Narrat... View the full answer