The following selected transactions were completed by Scat Trak Company during July of the current year:
July |
1 |
Purchased merchandise from Kermit Co., $18,750, terms FOB destination, n/30. |
3 |
Purchased merchandise from Basaway Co., $12,150, terms FOB shipping point, |
|
2/10, n/eom. Prepaid transportation costs of $180 were added to the invoice. |
||
4 |
Purchased merchandise from Phillips Co., $13,800, terms FOB destination, 2/10, n/30. |
|
6 |
Issued debit memorandum to Phillips Co. for $1,900 of merchandise returned |
|
from purchase on July 4. |
||
13 |
Paid Basaway Co. for invoice of July 3, less discount. |
|
14 |
Paid Phillips Co. for invoice of July 4, less debit memorandum of July 6 and discount. |
|
19 |
Purchased merchandise from Cleghorne Co., $18,000, terms FOB shipping point, n/eom. |
|
19 |
Paid transportation charges of $500 on July 19 purchase from Cleghorne Co. |
|
20 |
Purchased merchandise from Graham Co., $9,000, terms FOB destination, 1/10, n/30. |
|
30 |
Paid Graham Co. for invoice of July 20, less discount. |
|
31 |
Paid Kermit Co. for invoice of July 1. |
|
31 |
Paid Cleghorne Co. for invoice of July 19. |
Instructions
Journalize the entries to record the transactions of Scat Trak Company for July.