PLEASE READ CAREFULLY BEFORE STARTING THE ASSIGNMENT!!! I ALREADY HAVE ANSWERS FOR THE FIRST JOURNAL TABLE AS YOU CAN SEE BELOW, BUT I DON'T HAVE THE ANSWER FOR THE SECOND JOURNAL TABLE. I FOUND MANY ANSWERS FOR THE SECOND TABLE HERE ON CHEGG. BUT NOT ONE HAS A CORRECT ANSWER. FOR SOME OF THEM IT'S COMPLETELY DIFFERENT ANSWERS ALTHOUGH THE QUESTION IS THE SAME. PLEASE ANSWER THAT TABLE CAREFULLY AND CORRECTLY. USE THE SAME EXACT TABLE THAT I PROVIDED BELOW WITH THE CORRECT DATES, ACCOUNT TITLES AND AMOUNT. MAKE SURE THERE'S NO EXTRA OR ANY LESS ENTRY THAN THE EXACT NUMBER OF ENTRIES THAT'S SUPPSOED TO BE THERE AS PROVIDED IN THE TABLE BELOW.

The following selected transactions were completed by Amsterdam Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers. Note that the company uses a clearing house to take care of all bank as well as non-bank credit cards used by its 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, n/eom. 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 $4,800 to Targhee Co. for merchandise returned from sale on March 16. The cost of the merchandise returned was $2,900.

Record on page 11 of the journal

	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.

Journalize the entries to record the transactions of Amsterdam Supply Co. Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTSAmsterdam 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
312	Income Summary

	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
535	Office Supplies Expense
536	Credit Card Expense
539	Miscellaneous Expense
710	Interest Expense

Journalize the entries to record the transactions of Amsterdam Supply Co. Refer to the Chart of Accounts for exact wording of account titles. Scroll down for page 11 of the journal.

How does grading work?

PAGE 10

JOURNAL

ACCOUNTING EQUATION

Score: 400/400

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
1	Mar. 2	Accounts Receivable-Equinox Co.		18711
2		Sales			18711
3	Mar. 2	Cost of Merchandise Sold		13300
4		Merchandise Inventory			13300
5	Mar. 3	Cash		12031
6		Sales			11350
7		Sales Tax Payable			681
8	Mar. 3	Cost of Merchandise Sold		7000
9		Merchandise Inventory			7000
10	Mar. 4	Accounts Receivable-Empire Co.		55400
11		Sales			55400
12	Mar. 4	Cost of Merchandise Sold		33200
13		Merchandise Inventory			33200
14	Mar. 5	Cash		31800
15		Sales			30000
16		Sales Tax Payable			1800
17	Mar. 5	Cost of Merchandise Sold		19400
18		Merchandise Inventory			19400
19	Mar. 12	Cash		18711
20		Accounts Receivable-Equinox Co.			18711
21	Mar. 14	Cash		13700
22		Sales			13700
23	Mar. 14	Cost of Merchandise Sold		8350
24		Merchandise Inventory			8350
25	Mar. 16	Accounts Receivable-Targhee Co.		27225
26		Sales			27225
27	Mar. 16	Cost of Merchandise Sold		16000
28		Merchandise Inventory			16000
29	?Mar. 18	Customer Refunds Payable		4752
30		Accounts Receivable-Targhee Co.			4752
31	Mar. 18	Merchandise Inventory		2900
32		Estimated Returns Inventory			2900

	DATE	DESCRIPTION	POST. REF.	DEBIT	CREDIT	ASSETS	LIABILITIES	EQUITY
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