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Apr. 2 |
Purchased merchandise from Blue Company under the following terms: $6,700 price, invoice dated April 2, credit terms of 2/15, n/60, and FOB shipping point. |
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3 |
Paid $375 for shipping charges on the April 2 purchase. |
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4 |
Returned to Blue Company unacceptable merchandise that had an invoice price of $500. |
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17 |
Sent a check to Blue Company for the April 2 purchase, net of the discount and the returned merchandise. |
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18 |
Purchased merchandise from Fox Corp. under the following terms: $13,850 price, invoice dated April 18, credit terms of 2/10, n/30, and FOB destination. |
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21 |
After negotiations, received from Fox a $3,878 allowance on the April 18 purchase. |
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28 |
Sent check to Fox paying for the April 18 purchase, net of the discount and allowance. |
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Prepare journal entries to record the above transactions for a retail store. Assume a perpetual inventory system. (Round your answers to the nearest dollar amount. Omit the “$” sign in your response.) |
