The following selected transactions were completed during April between Swan Company and Bird Company: Apr.2. Swan Company sold merchandise on account to Bird Company, $14,800, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $9,300. 8. Swan Company sold merchandise on account to Bird Company, $23,000, terms FOB destination, 1/15, n/30. The cost of the merchandise sold was $13,800. 8. Swan Company paid freight of $820 for delivery of merchandise sold to Bird Company on April 8. 12. Bird Company paid Swan Company for purchase of April 2. 18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $11,800, terms FOB shipping point, n/45. The cost of the merchandise sold was $7,100. 26. Bird Company paid freight of $450 on April 24 purchase from Swan Company. 30. Swan Company granted a customer allowance (credit memo) to Bird Company for $11,300 for merchandise that was returned from the August 24 purchase. The cost of the merchandise returned was $6,500. Required: 1. Journalize the April transactions for Bird Company (the buyer).
The following selected transactions were completed during April between Swan Company and Bird Company: Apr.2. Swan Company sold merchandise on account to Bird Company, $14,800, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $9,300. 8. Swan Company sold merchandise on account to Bird Company, $23,000, terms FOB destination, 1/15, n/30. The cost of the merchandise sold was $13,800. 8. Swan Company paid freight of $820 for delivery of merchandise sold to Bird Company on April 8. 12. Bird Company paid Swan Company for purchase of April 2. 18. Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $11,800, terms FOB shipping point, n/45. The cost of the merchandise sold was $7,100. 26. Bird Company paid freight of $450 on April 24 purchase from Swan Company. 30. Swan Company granted a customer allowance (credit memo) to Bird Company for $11,300 for merchandise that was returned from the August 24 purchase. The cost of the merchandise returned was $6,500. Required: 1. Journalize the April transactions for Bird Company (the buyer).
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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The following selected transactions were completed during April between Swan Company and Bird Company:
| Apr.2. | Swan Company sold merchandise on account to Bird Company, $14,800, terms FOB shipping point, 2/10, n/30. Swan Company paid freight of $330, which was added to the invoice. The cost of the merchandise sold was $9,300. |
| 8. | Swan Company sold merchandise on account to Bird Company, $23,000, terms FOB destination, 1/15, n/30. The cost of the merchandise sold was $13,800. |
| 8. | Swan Company paid freight of $820 for delivery of merchandise sold to Bird Company on April 8. |
| 12. | Bird Company paid Swan Company for purchase of April 2. |
| 18. | Swan Company paid Bird Company a refund of $2,000 for defective merchandise in the April 2 purchase. Bird Company agreed to keep the merchandise. |
| 23. | Bird Company paid Swan Company for purchase of April 8. |
| 24. | Swan Company sold merchandise on account to Bird Company, $11,800, terms FOB shipping point, n/45. The cost of the merchandise sold was $7,100. |
| 26. | Bird Company paid freight of $450 on April 24 purchase from Swan Company. |
| 30. | Swan Company granted a customer allowance (credit memo) to Bird Company for $11,300 for merchandise that was returned from the August 24 purchase. The cost of the merchandise returned was $6,500. |
Required:
1. Journalize the April transactions for Bird Company (the buyer).
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