Lumen OHM Assessment

Big Box Hardware Company engaged in the following transactions in March.

March 1 Sold merchandise on account for $284,800; terms 2/10, n/30, FOB shipping point, freight collect.
March 5 $44,700 of the good sold on account on March 1 were returned for a full credit. Payment of the goods had not yet been received.
March 6 Purchased merchandise on account in the amount of $107,700; credit terms are 2/10, N/30.
March 9 A sales allowance was granted for merchandise sold March 1 for $5,620 which was damaged in shipment.
March 10 Returned merchandise from March 6 purchase totaling $44,600.
March 11 Payment was received for the net amount due from the sale of March 1.
March 12 Paid amount owed from March 6 purchase less return and discount.

Journalize the transactions.

Journal
Date	Description	Debit	Credit
March 1	A/R	284,800.00
March 1	Sales Revenue		284,800.00

March 5	Sales Returns & Allowances	44,700.00
March 5	A/R		44,700.00

March 6	Purchases	107,700.00
March 6	A/P		107,700.00

March 9	Sales Returns & Allowances	5,620.00
March 9	A/R		5,620.00

March 10	A/P	44,600.00
March 10	Purchases Returns & Allowances		44,600.00

March 11	Cash	229,790.40
March 11	Sales Discounts	4,689.60
March 11	A/R		234,480.00

March 12	A/P	63,100.00
March 12	Purchases Discounts		1,262.00
March 12	Cash		61,838.00