Journalizing purchase and sale transactionsJournalize the following transactions

Journalizing purchase and sale transactionsJournalize the following transactions that occurred in
September 2015 for Aquamarines. No explanationsare needed.
Identify each accounts payable and accounts receivable with the vendor or
customer name. Sep. 10 Cash $4455Sep. 3 Purchased
merchandise inventory on account from Shallin Wholesalers $5000. Terms 1/15 n/EOM FOB shipping point.4 Paid
freight bill of $80 on September 3 purchase.4 Purchased
merchandise inventory for cash of $1700.6 Returned
$500 of inventory from September 3 purchase.8 Sold
merchandise inventory to Hermosa Company $6000 on account. Terms 2/15
n/35. Cost of goods $2640.9 Purchased
merchandise inventory on account from Thomas Wholesalers $8000. Terms
2/10 n/30 FOB destination.10 Made
payment to Shallin Wholesalers for goods purchased on September 3 less return
and discount.12 Received
payment from Hermosa Company less discount.13 After
negotiations received a $200 allowance from Thomas Wholesalers.15 Sold
merchandise inventory to Jordan Company $2500 on account. Terms 1/10 n/EOM.
Cost
of goods $1050.22 Made
payment less allowance to Thomas Wholesalers for goods purchased on September
9.23 Jordan
Company returned $400 of the merchandise sold on September 15. Cost of goods
$160.25 Sold
merchandise inventory to Smithsons for $1100 on account that cost $400. Terms
of 2/10 n/30
were offered FOB shipping point. As a courtesy to Smithsons $75 of freight
was added to the invoice for which cash was paid by Aquamarines.26 After
negotiations granted a $100 allowance to Smithsons for merchandise purchased
on September
25.29 Received payment from Smithsons less allowance and
discount.30 Received payment from Jordan Company less return.
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