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  3. 14. journalize each of the following transactions

14. Journalize each of the following transactions for TIM Co.. Assume the perpetual inventory system...

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Accounting

14. Journalize each of the following transactions for TIM Co.. Assume the perpetual inventory system is used. Mar 22 Purchased merchandise on account from Thomas Wholesalers, $8,000. Terms 2/10, n/30, FOB shipping point. Mar 24 Returned $2,000 goods to Thomas Wholesalers that were not ordered. Mar 29 Sold merchandise to Client ATC, $5,000. Terms 2/10, n/30, FOB shipping point. Paid freight bill of $58 for the transaction. Cost of goods, $2,500. Apr 1 Made payment to Thomas Wholesalers for the purchase on Mar 22, plus a freight of $136. Apr 2 Client ATC retuned $1,500 of the merchandise sold on Mar 29. Cost of goods: $7,50. Apr 9 Client ATC made payment for its transaction on Mar 29

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