Sales-Related and Purchase-Related Transactions for Buyer and Seller Using Periodic Inventory System

Selected transactions during April between Swan Company and Bird Company are shown below.

Required:

Hide 1. Journalize the entries to record the transactions for Swan Company, assuming that the company uses the periodic inventory system. For a compound transaction, if an amount box does not require an entry, leave it blank. Apr. 2-sale Apr. 2-freight Apr. 8-sale Apr. 8-delivery Apr. 12-Return Apr. 12-Collection Apr. 23 Apr. 24 Apr. 30

Hide 2. Journalize the entries to record the transactions for Bird Company, assuming that the company uses the periodic inventory system. For a compound transaction, if an amount box does not require an entry, leave it blank. Apr. 2 Apr. 8 Apr. 12-Return Apr. 12-Payment Apr. 23 Apr. 24 Apr. 26 Apr. 30