P$-$F:$5-48$B$.$ Journalizing purchase and sale transactions $($Learning Objectives $2,$

$3)$

Journalize the following transactions that occurred in January $2025$ for City Water Park. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name.

Jan. $4$ Purchased merchandise inventory on account from Vegas Company, $\backslash$$$5,000.$ Terms $\backslash (1/10,$ n $/$ E O M $\backslash ),$ FOB shipping point.

$6$ Paid freight bill of $\backslash (\backslash$$ $150\backslash )$ on January $4$ purchase.

$8$ Returned half the inventory purchased on January $4$ from Vegas Company.

$10$ Sold merchandise inventory for cash, $\backslash (\backslash$$ $1,100\backslash ).$ Cost of goods, $\backslash (\backslash$$ $440\backslash ).$ FOB destination.

$11$ Sold merchandise inventory to Greensboro Corporation, $\backslash (\backslash$$ $10,100\backslash ),$ on account, terms of $3/10,$ n$/$EOM$.$ Cost of goods, $\backslash$$$5,555.$ FOB shipping point.

$12$ Paid freight bill of $\backslash (\backslash$$ $30\backslash )$ on January $10$ sale.

$13$ Sold merchandise inventory to Crystal Company, $\backslash (\backslash$$ $8,800\backslash ),$ on account, terms of $\backslash (3/15\backslash ),\backslash (\backslash$mathrm$\{$n$\}/45\backslash ).$ Cost of goods, $\backslash (\backslash$$ $4,400\backslash ).$ FOB shipping point.

$14$ Paid the amount owed on account from January $4,$ less return and discount.

$16$ After negotiations, granted a $\backslash (\backslash$$ $800\backslash )$ allowance to Greensboro Corporation on January $11$ sale.

$17$ Received defective inventory as a sales return from the January $13$ sale, $\backslash (\backslash$$ $400\backslash ).$ Cost of goods, $\backslash (\backslash$$ $200\backslash ).$

$18$ Purchased inventory of $\backslash (\backslash$$ $4,600\backslash )$ on account from Rainier Corporation. Payment terms were $\backslash (1/10,$ n $/30\backslash ),$ FOB destination.

$20$ Received cash from Greensboro Corporation, less allowance and discount.

$26$ Paid amount owed on account from January $18,$ less discount.

$28$ Received cash from Crystal Company, less return and discount.

$29$ Purchased inventory from Santiago Corporation for cash, $\backslash$$$12,000,$ FOB shipping point. Freight in paid to shipping company, $\backslash (\backslash$$ $240\backslash ).$