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1) Journalize the April Transactions for Bird Company. (Buyer)
2)Journalize the April transactions for Swan Company (the seller)
Company paid freight of $ 265, which was added to the invoice. The cost of the merchandise sold was $11,000. sold merchandise on account to Bird Company, $23.000, terms FOB destination. 1/ 15, n/30. The cost of the merchandise sold was $13,800 y paid Swan Company for purchase of April 2 18. Swan Company paid Bird Company a agreed to keep the 23. Bird Company paid Swan Company for purchase to Bird Company 26. Bird Company paid freight of $420 on A 30. Swan Company granted a customer al lowance (credit memo) to Bird Company
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1. Journal entries for Bird Company Date Apr. 2 Account Titles and Explanation Merchandise Inventory (17,500 + 265) Debit Credit 17765 Accounts Payable 17765 Apr. 8 Merchandise Inventory Accounts Payable 23000 23000 Apr. 12 Accounts Payable 17765 Merchandise inventory (17,500 x 2%) Cash (17,765 - 350) 350 17415 Apr. 18 Cash 2000 Merchandise Inventory 2000 Apr. 23 Accounts Payable 23000 Merchandise Inventory (23,000 x 1%) Cash (23,000 - 230) 230 22770 Apr. 24 Merchandise Inventory 9700 Accounts Payable 9700 Apr. 26 Merchandise Inventory 420 Cash 420 Apr. 30 Accounts Payable 11300 Merchandise Inventory 11300

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