### InstructionsThe 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., $18,900, terms FOB destination, 1/10, n/30. The cost of the merchandise sold was $13,300.- Sold merchandise for $11,350 plus 6% sales tax to retail cash customers. The cost of merchandise sold was $7,000.**Mar. 4**- Sold merchandise on account to Empire Co., $55,400, terms FOB shipping point, n/60. The cost of merchandise sold was $33,200.**Mar. 5**- Sold merchandise for $30,000 plus 6% sales tax to retail customers who used MasterCard. The cost of merchandise sold was $19,400.**Mar. 12**- Received check for amount due from Equinox Co. for sale on March 2.**Mar. 14**- Sold merchandise to customers who used American Express cards, $13,700. The cost of merchandise sold was $8,350.**Mar. 16**- Sold merchandise on account to Targhee Co., $27,500, terms FOB shipping point, 1/10, n/30. The cost of merchandise sold was $16,000.**Mar. 18**- Issued credit memo for $1,000 to Targhee Co. for damaged merchandise from sale on March 16.#### Record on page 11 of the journal**Mar. 19**- Sold merchandise on account to Vista Co., $8,250, terms FOB shipping point, 2/10, n/30. Added $75 to the invoice for prepaid freight. The cost of merchandise sold was $5,000.**Mar. 26**- Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18.**Mar. 28**- Received check for amount due from Vista Co. for sale of March 19.**Mar. 31**- Received check for amount due from Empire Co. for sale of March 4.**Mar. 31**- Paid Fleetwood Delivery Service $5,600 for delivery of merchandise in March to customers under shipping terms of FOB **Chart of Accounts: Amsterdam Supply Co. General Ledger****ASSETS**- 110 Cash- 121 Accounts Receivable–Empire Co.- 122 Accounts Receivable–Equinox Co.- 123 Accounts Receivable–Targhee Co.- 124 Accounts Receivable–Vista Co.- 125 Notes Receivable- 130 Merchandise Inventory- 131 Estimated Returns Inventory- 140 Office Supplies- 141 Store Supplies- 142 Prepaid Insurance- 180 Land- 192 Store Equipment- 193 Accumulated Depreciation–Store Equipment- 194 Office Equipment- 195 Accumulated Depreciation–Office Equipment**LIABILITIES**- 210 Accounts Payable- 216 Salaries Payable- 218 Sales Tax Payable- 219 Customer Refunds Payable- 221 Notes Payable**EQUITY**- 310 Owner, Capital- 311 Owner, Drawing**REVENUE**- 410 Sales- 610 Interest Revenue**EXPENSES**- 510 Cost of Merchandise Sold- 521 Delivery Expense- 522 Advertising Expense- 524 Depreciation Expense–Store Equipment- 525 Depreciation Expense–Office Equipment- 526 Salaries Expense- 531 Rent Expense- 533 Insurance Expense- 534 Store Supplies Expense- 536 Office Supplies Expense- 538 Credit Card Expense- 539 Miscellaneous Expense- 710 Interest ExpenseThis chart of accounts is structured to categorize and manage the financial transactions and statements of Amsterdam Supply Co. It is divided into five main sections: assets, liabilities, equity, revenue, and expenses, each containing specific accounts relevant to that category.

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Description: ### InstructionsThe 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 o

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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., $18,900, terms FOB destination, 1/10, n/30. The cost of the merchandise sold was $13,300. 3 Sold merchandise for $11,350 plus 6% sales tax to retail cash customers. The cost of merchandise sold was $7,000. 4 Sold merchandise on account to Empire Co., $55,400, terms FOB shipping point, nieom. The cost of merchandise sold was $33,200. 5 Sold merchandise for $30,000 plus 6% sales tax to retail customers who used MasterCard. The cost of merchandise sold was $19,400. 12 Received check for amount due from Equinox Co. for sale on March 2 14 Sold merchandise to customers who used American Express cards, $13,700. The cost of merchandise sold was $8,350. 16 Sold merchandise on account to Targhee Co., $27,500, terms FOB shipping point, 1/10, n/30. The cost of merchandise sold was $16,000. 18 Issued credit memo for $1,000 to Targhee Co. for damaged merchandise from sale on March 16. 19 Sold merchandise on account to Vista Co. $8.250, terms FOB shipping point, 2/10, n/30. Added $75 to the invoice for prepaid freight. The cost of merchandise sold was $5,000 26 Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18 28 Received check for amount due from Vista Co. for sale of March 19. 31 Received check for amount due from Empire Co. for sale of March 4. 31 Paid Fleetwood Delivery Service $5.600 for delivery of merchandise in March to customers under shipping terms of FOB destination. Apr. 3 Paid City Bank $940 for service fees for handling MasterCard and American Express sales during March. 15 Paid $6,544 to state sales tax division for taxes owed on sales Required: Joumalize the entries to record the transactions of Amsterdam Supply Co. Refer to the chart of accounts for the exact wording of the account sities. CNOW joumals do not use lines for joumal explanations. Every line on a journal page is used for debit or credit entries OHO will automatically indent a credit entry when a credit amount is entered Record on page 11 of the journal