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journalize the following transactions

Journalize the following transactions that occurred in September for Faucet, assuming the perpetual inventory system is being used. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name. Faucet estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Check your spelling carefully and do not abbreviate. Assume the company records sales at the net amount.) Click the icon to view the transactions.) Sep 3: Purchased merchandise inventory on account from Sheldon Wholesalers, $3,500. Terms 2/15, nEOM, FOB shipping point. Date Accounts Debit Credit Sep 3 Sep. 4: Paid freight bill of 565 on September 3 purchase. Date Accounts Debit Credit Sep. 4 Sep 4 Purchase merchandise inventory for cash of $2,300. Date Accounts Debit Credit More Info Sep 3 Sep. 4 Sep. 4 Sep. 6 Sep. 8 Sep. 9 Sep. 10 Purchased merchandise inventory on account from Sheldon Wholesalers, $3,500. Terms 2/15, n/EOM, FOB shipping point. Paid freight bill of $65 on September 3 purchase. Purchase merchandise inventory for cash of $2,300 Returned $600 of inventory from September 3 purchase. Sold merchandise inventory to Hayes Company, $5,800, on account. Terms 1/15, 1/35. Cost of goods, $2,320 Purchased merchandise inventory on account from Tucker Wholesalers, $6,500. Terms 3/10, n/30, FOB destination Made payment to Sheldon Wholesalers for goods purchased on September 3, less retum and discount Received payment from Hayes Company, less discount After negotiations, received a $500 allowance from Tucker Wholesalers, Sold merchandise inventory to Johnson Company, $3,000, on account. Terms NEOM. Cost of goods $1.290. Made payment, less allowance, to Tucker Wholesalers for goods purchased on September 9. Sold merchandise inventory to Smithsons for $1.900 on account that cost $798. Terms of 3/10,n/30 was offered, FOB shipping point. As a courtesy to Smithsons. $50 of freight we added to the inunica for which cach was neid Faucet Sep. 12 Sep. 13 Sep. 15 Sep. 22 Sep. 25 Print Done # 3 & 2 4 5 Journalize the following transactions that occurred in September for Faucet, assuming the perpetual inventory system is being used. No explanations are needed. Identity each accounts payable and accounts receivable with the vendor or customer name. Faucet estimates sales retums at the end of each month. (Record debits first, then credits. Exclude explanations from joumal entries. Check your spelling carefully and do not abbreviate. Assume the company records sales at the net amount) Click the icon to view the transactions.) Sep. 6 Sep. 8: Sold merchandise inventory to Hayes Company, $5,800, on account. Terms 1/15, 1/35. Cost of goods $2,320, Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step Date Accounts Debit Credit Sep. 8 Now journalize the expense related to the September 8 sale--Cost of goods, $2,320. Date Accounts Debit Credit Sep 8 Next Now journalize the expense related to the September 8 sale--Cost of goods, $2,320 Date Accounts Debit Credit Sep. 8 Sep. 9: Purchased merchandise inventory on account from Tucker Wholesalers, $6,500. Terms 3/10,n/30, FOB destination Date Accounts Debit Credit Sep 9 Sep 10: Made payment to Sheldon Wholesalers for goods purchased on September 3, less return and discount Date Accounts Debit Credit Sep. 110: Mage payment to Sneidon wnolesalers tor goods purchased on September 3, less return ana discount. Date Accounts Debit Credit Sep. 10 Sep. 12: Received payment from Hayes Company, less discount. Date Accounts Debit Credit Sep. 12 Sep. 13: After negotiations, received a $500 allowance from Tucker Wholesalers. Date Accounts Debit Credit Sep. 13 estimates SdIUS your spelling carefully and do not abbreviate. Assume the company records sales at the net amount.) Click the icon to view the transactions.) Sep. 13. After negotiations, received a $500 allowance from Tucker Wholesalers, Date Accounts Debit Credit Sep 13 Sep 15 Sold merchandise inventory to Johnson Company, $3,000, on account. Terms n/EOM. Cost of goods, $1,290. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit Sep 15 Now journalize the expense related to the September 15 sale-Cost of goods, $1,290. RE Now journalize the expense related to the September 15 sale-Cost of goods, $1,290. Date Accounts Debit Credit Sep. 15 Sep. 22: Made payment, less allowance, to Tucker Wholesalers for goods purchased on September 9. Date Accounts Debit Credit Sep. 22 Sep 25: Sold merchandise inventory to Smithsons for $1,900 on account that cost $798. Terms of 3/10,n/30 was offered, FOB shipping point. As a courtesy to Smithsons, $50 of freight was added to the invoice for which cash was paid by Faucet. Chck the icon to view the transactions sup.23. So memory 1 SISONS 104 YUU TUTUH COSE TO ITS OF TU, SU was nered, FUD Shipping point. As a courtesy to Smithsons. $50 of freight was added to the invoice for which cash was paid by Faucet Begin by preparing a compound journal entry to joumalize the sale and the full amount of the receivable from this transaction. Do not record the expenso related to the sale. We will do that in the following step. (Prepare a compound journal entry) Dato Accounts Debit Credit naam Sep. 25 pt Now oumalize the expense related to the September 25 sale-Cost of goods $798 WI Date Accounts Debit Credit Sep. 25 ac iny spe Sep. 29. Received payment from Smithsons, less discount Click the icon to view the transactions.) Sep. 29: Received payment from Smithsons, less discount. Date Accounts Debit Credit Sep. 29 Sep. 30: Received payment from Johnson Company. Date Accounts Debit Credit Sep. 30

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