Instructions Record on page 11 of the journal Apr Sold merchandise on account to Vista Co., $7,750, terms FOB shipping point, 2/10, n/30 Added $75 to the invoice for prepaid freight. The cost of merchandise sold was $4,600. Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18. Received check for amount due from Vista Co. for sale of March 19. Received check for amount due from Empire Co. for sale of March 4. Paid Fleetwood Delivery Service $5.510 for delivery of merchandise in March to customers under shipping terms of FOB destination. Paid City Bank $900 for service fees for handling MasterCard and American Express sales during March. 15 Paid $6,457 to state sales tax division for taxes owed on sales. 19 26 28 31 31 3 Required: Journalize the entries to record the transactions of Amsterdam Supply Co. Refer to the chart of accounts for the exact wording of the account titles CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Instructions
Record on page 11 of the journal
Apr
Sold merchandise on account to Vista Co., $7,750, terms FOB shipping point, 2/10, n/30 Added $75 to
the invoice for prepaid freight. The cost of merchandise sold was $4,600.
Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18.
Received check for amount due from Vista Co. for sale of March 19.
Received check for amount due from Empire Co. for sale of March 4.
Paid Fleetwood Delivery Service $5.510 for delivery of merchandise in March to customers under
shipping terms of FOB destination.
Paid City Bank $900 for service fees for handling MasterCard and American Express sales during
March.
15 Paid $6,457 to state sales tax division for taxes owed on sales.
19
26
28
31
31
3
Required:
Journalize the entries to record the transactions of Amsterdam Supply Co. Refer to the chart of accounts for the exact wording of the account
titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will
automatically indent a credit entry when a credit amount is entered
Transcribed Image Text:Instructions Record on page 11 of the journal Apr Sold merchandise on account to Vista Co., $7,750, terms FOB shipping point, 2/10, n/30 Added $75 to the invoice for prepaid freight. The cost of merchandise sold was $4,600. Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18. Received check for amount due from Vista Co. for sale of March 19. Received check for amount due from Empire Co. for sale of March 4. Paid Fleetwood Delivery Service $5.510 for delivery of merchandise in March to customers under shipping terms of FOB destination. Paid City Bank $900 for service fees for handling MasterCard and American Express sales during March. 15 Paid $6,457 to state sales tax division for taxes owed on sales. 19 26 28 31 31 3 Required: Journalize the entries to record the transactions of Amsterdam Supply Co. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debit or credit entries. CNOW journals will automatically indent a credit entry when a credit amount is entered
Instructions
The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers
Record on page 10 of the journal
Mar
2 Sold merchandise on account to Equinox Co., $19,200, terms FOB destination, 1/10, n30. The cost of
the merchandise sold was $13,900.
Sold merchandise for $12,150 plus 6% sales tax to retail cash customers. The cost of merchandise
sold was $6.840.
3
4
5
12
14
16
18
Sold merchandise on account to Empire Co. $57,310, terms FOB shipping point, neom. The cost of
merchandise sold was $31.970
Sold merchandise for $28,950 plus 6% sales tax to retail customers who used MasterCard. The cost of
merchandise sold was $19,460.
Received check for amount due from Equinox Co. for sale on March 2
Sold merchandise to customers who used American Express cards, $14,800. The cost of merchandise
sold was $8,010.
Sold merchandise on account to Targhee Co., $29,800, terms FOB shipping point, 1/10, n/30. The cost
of merchandise sold was $14,480.
Issued credit memo for $1,400 to Targhee Co. for damaged merchandise from sale on March 16
Transcribed Image Text:Instructions The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers Record on page 10 of the journal Mar 2 Sold merchandise on account to Equinox Co., $19,200, terms FOB destination, 1/10, n30. The cost of the merchandise sold was $13,900. Sold merchandise for $12,150 plus 6% sales tax to retail cash customers. The cost of merchandise sold was $6.840. 3 4 5 12 14 16 18 Sold merchandise on account to Empire Co. $57,310, terms FOB shipping point, neom. The cost of merchandise sold was $31.970 Sold merchandise for $28,950 plus 6% sales tax to retail customers who used MasterCard. The cost of merchandise sold was $19,460. Received check for amount due from Equinox Co. for sale on March 2 Sold merchandise to customers who used American Express cards, $14,800. The cost of merchandise sold was $8,010. Sold merchandise on account to Targhee Co., $29,800, terms FOB shipping point, 1/10, n/30. The cost of merchandise sold was $14,480. Issued credit memo for $1,400 to Targhee Co. for damaged merchandise from sale on March 16
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