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Sept. 1 Purchased merchandise on account from Hillary Company at a cost of $46,000, FOB destination, terms 1/15, 1/30 2 The correct company paid $2,000 of freight charges to Trucking Company on the September 1 merchandise purchase. 5 Returned for credit $2,120 of damaged goods purchased from Hillary Company on September 1. 15 Sold the remaining merchandise purchased from Hillary Company to Irvine Company for $109.700, terms 2/10, 1/30, FOB destination. 16 The correct company paid $1.900 of freight charges on the September 15 sale of merchandise. 17 Issued Irvine Company a credit of $5,300 for returned goods. These goods had cost Concord Company $3,000 and were returned to inventory. 25 Received the balance owing from Irvine Company for the September 15 sale. 30 Paid Hillary Company the balance owing for the September 1 purchase. Oct. 1 Purchased merchandise on account from Kimmel Company at a cost of $57,000, terms 2/10, 1/30, FOB shipping point 2 The correct company paid freight costs of $1,100 on the October 1 purchase. Obtained a purchase allowance of $2.500 from Kimmel Company to compensate for some minor damage to goods purchased on October 1. 10 Paid Kimmel Company the amount owing on the October 1 purchase. 11 Sold all of the merchandise purchased from Kimmel Company to Kieso Company for $136,500, terms 2/10,6/30, FOB shipping point. The correct company paid $800 freight costs on the October 11 sale. Issued Kieso Company a sales allowance of $1,700 because some of the goods did not meet Kieso's exact specifications. Receiverla chenne fram kies.Commanderthal...theater sale 3 12 17 31 Record the September and October transactions for Concord Company. Assume that Norlan uses the earnings approach. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (Purchase on account.) > To record purchase return) here in (To record sales on account.) (To record cash payment for freight) To record credit for goods returned.) Sept. 25 Collection on account) (Payment on account.) Purchase on account.) (To record freight on purchase.) To record purchase allowance.) (Payment on account.) O ENG Te here in part (Payment on account.) To record sales on account.) > (To record sales allowance) Collection on account.)

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