Problem $1$: Preparing Journal Entries for Merchandising Activities

Prepare the necessary entries for Eagleville Supply Company $($ESC$)$ for merchandising transactions that occurred during December $20$X$8.$ Assume that any discounts available were taken if payments were made during the discount period. Omit explanations. Leave one blank line between journal entries.

a$.$ On December $1,$ ESC purchased $$8,000$ of merchandise for cash from Ortega Company. Shipping terms were FOB shipping point.

b$.$ On December $2,$ ESC purchased $$10,000$ of merchandise from Acosta Company with terms $\frac{3}{10},\frac{n}{45}.$ Shipping terms were FOB destination.

c$.$ On December $3,$ ESC sold $$1,000$ of merchandise to Martel Company for cash. ESC had paid $$600$ for this merchandise. Shipping terms were FOB shipping point.

d$.$ On December $4,$ ESC paid $$400$ freight costs for the purchase of merchandise from Ortega Company on December $1$st$.$

e$.$ On December $5,$ ESC sold $$1,200$ of merchandise to Wagner Company with terms $\frac{2}{10},\frac{n}{60}.$ ESC paid $$700$ for this merchandise. Shipping terms were FOB destination.

f$.$ On December $6,$ ESC paid $$200$ to Diaz Freight Lines for delivering the goods to Wagner Company $($from the December $5^{th}$ sale$).$

g$.$ On December $7,$ ESC purchased $$15,000$ of Merchandise from Duval Company $\frac{3}{10},\frac{n}{30}.$ Shipping terms were FOB shipping point.

h$.$ On December $8,$ ESC sold $$6,000$ of merchandise to Valente Company $1/15,$ n$/25.$ ESC had paid $$4,000$ for this merchandise. Shipping terms were FOB shipping point.

i$.$ On December $10,$ ESC paid for merchandise purchased from Acosta Company on December $2^{nd}.$

j$.$ On December $11,$ ESC returned $$3,000$ of the merchandise purchased from Duval Company on December $7^{th}.$

k$.$ On December $12,$ Valente Company returned $$900$ of the merchandise they had purchased from ESC because it was the wrong color. The original cost of this merchandise to ESC was $$600.$

On December $15,$ ESC received payment from Wagner Company for the sale made on December $5^{th}.$

m$.$ On December ${17}^{th},$ ESC paid Duval Company for the purchase made on December $7^{th}($note: part of the merchandise had been returned on December ${11}^{th}).$

n$.$ On December ${22}^{nd},$ ESC received payment from Valente Company for the sale made on Dec. $8$th$.($Note: Valente returned a portion of the goods on December ${12}^{th}).$