Question: Sofie's Socks had the following transactions in May. May 2 Purchased merchandise on account at a cost of $40,400; terms 2/10,n/30, FOB destination, freight

Sofie's Socks had the following transactions in May. May 2 Purchased merchandise on account at a cost of

Sofie's Socks had the following transactions in May. May 2 Purchased merchandise on account at a cost of $40,400; terms 2/10,n/30, FOB destination, freight prepaid. May 12 Sold merchandise on account for $61,900, with terms 2/10, n/30, FOB destination, freight prepaid. May 16 Paid freight cost on the merchandise sold, $2,170. May 18 Sophie's Socks was granted an allowance for the amount of $2,780 on the purchase of May 2 because of damaged merchandise. May 20 Received payment from sale of May 12, less discount. May 21 Paid the amount due on the purchase of May 2. Journalize the transactions.

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