Try another version of this question Sofie's Socks had the following transactions in May. May 2 Purchased merchandise on account at a cost of $44,600; terms 2/10,n/30, FOB destination, freight prepaid. May 12 Sold merchandise on account for $63,900, with terms 2/10, n/30, FOB destination, freight prepaid. May 16 Paid freight cost on the merchandise sold, $2,110. May 18 Sophie's Socks was granted an allowance for the amount of $2,740 on the purchase of May 2 because of damaged merchandise. May 20 Received payment from sale of May 12, less discount. May 21 Paid the amount due on the purchase of May 2. Journalize the transactions. JournalDateDescriptionDebitCreditMay 2 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 2 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue May 12 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 12 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue May 16 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 16 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue May 18 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 18 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue May 20 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 20 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 20 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue May 21 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 21 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue JournalDateDescriptionDebitCreditMay 2Purchases44,600May 2 A/P44,600 May 12A/R63,900May 12 Sales Revenue63,900 May 16Freight Expense2,110May 16 Cash2,110 May 18A/P2,740May 18 Purchases Returns & Allowances2,740 May 20Cash62,622May 20Sales Discounts1,278May 20 A/R63,900 May 21A/P41,860May 21 Cash41,860
Try another version of this question
Sofie's Socks had the following transactions in May.
Journalize the transactions.
JournalDateDescriptionDebitCreditMay 2 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 2 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue May 12 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 12 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue May 16 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 16 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue May 18 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 18 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue May 20 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 20 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 20 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue May 21 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales RevenueMay 21 A/PA/RCashFreight ExpenseFreight InPurchasesPurchases DiscountPurchases Returns & AllowancesSales DiscountsSales Returns & AllowancesSales Revenue