Question E8.2

E Exercises AXI (LOI) On terms 1/10, 1/30 101) On January 0. Matta Led sells merchandise on account to Harley Inc. for 9.200, 10. n/30. On January 16, Harley pays the amount due. Prepare entries for me accounts receivable. instructions the entries on Malta's books to record the sale and related collection. (Omit cost of goods sold entries.) Journalize entries receivable. & 2 (L01) Presented below are selected transactions of Federer Apparel. Federer sells in large quanti- ries to other companies and also sells its product in a small retail outlet. March 1 Sold merchandise on account to Lynda Company for CHF5,000, terms 2/10, n/30. 3 Lynda Company returned merchandise worth CHF500 to Federer. 9 Federer collected the amount due from Lynda Company from the March 1 sale. 15 Federer sold merchandise for CHF400 in its retail outlet. The customer used his Federer credit card. 31 Federer added 1.5% monthly interest to the customer's credit card balance. Instructions Prepare journal entries for the transactions above. (Ignore cost of goods sold entries and explanations.) E8.3 (LO 1) Presented below are two independent situations. Journalize accounts re mstructions