Question

Enter the debits and credits necessary to record the followingtransactions ( for I-L, only journalize on the books of theseller)

a) cash purchase/sale of 2400 and cost of merchandise 1900

b) credit purchase/sale of 800 with credit terms of 2/10, n/30and cost of merchandise 500.

c) return of 100 of merchandise in transaction b (cost of40)

d) payment/reciept of amount due in transaction b within thediscount period

e) payment of 200 in delivery with terms of FOB shippingpoint

f) pqayment of 145 in delivery with terms FOB destination

g) credit purchase/sales of 900 with perpaid delivery charges of60 (not included int he 900) credit terms of 1/10, n/30, FOBshipping point, and cost of merchandise 500

h) payment and receipt of the amount due from transaction gbeyond the discount period

i) cash sale of 200 with a sales tax of 5% and cost of 80

j) payment of 300 in sale tax to the taxing authority

k) credit card sale of 500 with a cost of 200

L) record payment of service charges on credit card sales equalto 200