Question

4 Purchased merchandise inventory on account from Valsad Company, $ 6,000. Terms 3 / 10, n/EOM, FOB shipping point.

6 Paid freight bill of $ 170 on November 4 purchase.

8 Returned half of the inventory purchased on November 4 from Valsad Company.

10 Sold merchandise inventory for cash, $ 1,900. Cost of goods; $ 760. FOB destination.

11 Sold merchandise inventory to Garfunkel Corporation, $ 10,600, on account. Terms 3 / 10, n / EOM. Cost of goods, $ 5,300. FOB shipping point.

12 Paid freight bill of $ 60 on November 10 sale.

13 Sold merchandise inventory to Caldwell Company for $ 9,500 on account, terms of 3 / 15, n / 45 . Cost of goods, $ 4,750 . FOB shipping point.

14 Paid the amount owed on account from November 4 , less retum and discount.

16 After negotiations, granted a $ 900 allowance to Garfunkel Corporation on November 11 sale.

17 Received defective inventory as a sales return from the November 13 sale, $ 500. Cost of goods, $ 250.

18 Purchased inventory of $ 4,200 on account from Richmond Corporation. Payment terms were 1 / 10, n / 30, FOB destination.

20 Received cash from Garfunkel Corporation, less allowance and discount.

26 Paid amount owed on account from November 18 , less discount.

28 Received cash from Caldwell Company, less return and discount.

29 Purchased inventory from Sampson Corporation for cash, $ 12,100, FOB shipping point. Freight in paid to shipping company, $ 220.

Answer 1

So here the journal entries of these transactions during November

I hope this will helpful for you...