Lumen OHM Assessment

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

September 1 Sold merchandise on account for $269,700; terms 2/10, n/30, FOB shipping point, freight collect.
September 5 $42,300 of the good sold on account on September 1 were returned for a full credit. Payment of the goods had not yet been received.
September 6 Purchased merchandise on account in the amount of $129,200; credit terms are 2/10, N/30.
September 9 A sales allowance was granted for merchandise sold September 1 for $5,760 which was damaged in shipment.
September 10 Returned merchandise from September 6 purchase totaling $44,700.
September 11 Payment was received for the net amount due from the sale of September 1.
September 12 Paid amount owed from September 6 purchase less return and discount.

Journalize the transactions.

Journal
Date	Description	Debit	Credit
September 1	A/R	269,700.00
September 1	Sales Revenue		269,700.00

September 5	Sales Returns & Allowances	42,300.00
September 5	A/R		42,300.00

September 6	Purchases	129,200.00
September 6	A/P		129,200.00

September 9	Sales Returns & Allowances	5,760.00
September 9	A/R		5,760.00

September 10	A/P	44,700.00
September 10	Purchases Returns & Allowances		44,700.00

September 11	Cash	217,207.20
September 11	Sales Discounts	4,432.80
September 11	A/R		221,640.00

September 12	A/P	84,500.00
September 12	Purchases Discounts		1,690.00
September 12	Cash		82,810.00