J$.$ Doe, Capital $$35,000\mathrm{.}00$

J$.$ Doe, Withdrawls $$10,000\mathrm{.}00$

Consulting Revenue $$83,200\mathrm{.}00$

Depreciation Expense $--$ Equipment $$6,000\mathrm{.}00$

Wages Expense $$25,000\mathrm{.}00$

Insurance Expense $$750\mathrm{.}00$

Rent Expense $$7,000\mathrm{.}00$

Supplies Expense $$2,500\mathrm{.}00$

Utillities Expense $$1,700\mathrm{.}00$

Totals $$136,200\mathrm{.}00$ $$136,200\mathrm{.}00$

Closing Entries

Account Title Debit Credit

Problem $4(40$ Points$)$

Doe Co$.$ is a merchandise retailer. The company had the following transactions during the

month of April:

April $2$

Purchased merchandise from MAP Corp. for $$12,000$ under credit terms of

$2/10,$N$/30.$

April $5$

Sold Merchandise to Bergez Co$.$ for $$15,500$ under credit terms $2/10,$N$30.$ The

merchandise had cost $$13,750.$

April $10$

Purchased merchandise from McFarland Co$.$ for $$12,250$ under credit terms $1/10,$N$/30.$

April $12$

Bergez Co$.$ returned merchandise from the April $5$ sale that had cost $$2,000,$ and had

been sold for $$2,750.$ The merchandise was restored to inventory.

April $15$

Received the balance due from Bergez Co$.$ for April $5$ sales, less the return on April $12.$

April $20$

Sold Merchandise to Harden Co$.$ for $$11,000$ under credit terms $5/20,$N$/60.$ The

merchandise had cost $$8,750.$

April $20$

Paid the amount due McFarland Co$.$ for the April $10$ purchase.

April $30$

Received balance due from Harden Co$.$ for April $20$ sale.

April $30$

Paid the amount due to MAP Corp. for April $2$ purchase.

Required

Prepare journal entries to record the merchandising transactions for Doe Co$.$ Use a

separate account for each payable and receivable, for example: Accounts payable $$ MAP

Corp.

Merchandise Entries

Account Title Debit Credit

Merchandise Entries

Account Title Debit Credit