journalize the entries to record the transactions of water tech supplies co 665810

July

1

Sold merchandise on account to Upshaw Co., $8,000, terms FOB shipping point,

n/eom. The cost of merchandise sold was $4,800.

2

Sold merchandise for $15,000 plus 7% sales tax to cash customers. The cost of

merchandise sold was $8,800.

5

Sold merchandise on account to Westone Company, $16,000, terms FOB destination,

1/10, n/30. The cost of merchandise sold was $10,500.

8

Sold merchandise for $11,500 plus 7% sales tax to customers who used VISA

cards. The cost of merchandise sold was $7,000.

13

Sold merchandise to customers who used MasterCard cards, $8,000. The cost of

merchandise sold was $4,750.

14

Sold merchandise on account to Tyler Co., $7,500, terms FOB shipping point,

1/10, n/30. The cost of merchandise sold was $4,000.

15

Received check for amount due from Westone Company for sale on July 5.

16

Issued credit memorandum for $800 to Tyler Co. for merchandise returned

from sale on July 14. The cost of the merchandise returned was $360.

18

Sold merchandise on account to Horton Company, $6,850, terms FOB shipping

point, 2/10, n/30. Paid $210 for transportation costs and added them to the

invoice. The cost of merchandise sold was $4,100.

24

Received check for amount due from Tyler Co. for sale on July 14 less credit

memorandum of July 16 and discount.

28

Received check for amount due from Horton Company for sale of July 18.

31

Paid Uptown Delivery Service $3,100 for merchandise delivered during July to

customers under shipping terms of FOB destination.

31

Received check for amount due from Upshaw Co. for sale of July 1.

Aug.

3

Paid First National Bank $780 for service fees for handling MasterCard and

VISA sales during July.

10

Paid $1,855 to state sales tax division for taxes owed on sales.