journalize february transactions for gems no explanations are required 559686

Feb 3

Purchased inventory on terms 1/5, n/eom, $2,000.

4

Purchased inventory for cash of $1,600.

6

Returned $600 of inventory from February 4 purchase.

8

Sold goods on terms of 2/15, n/35 of $7,000 that cost $3,500.

10

Paid for goods purchased on February 3.

12

Received goods from February 8 sale of $500 that cost $190.

23

Received payment from February 8 customer.

25

Sold goods to Farms for $900 that cost $350. Terms of n/30 were offered.

As a courtesy to Farms, $75 of freight was added to the invoice for which cash was paid directly to UPS by Gems.

29

Received payment from Farms.