ACC – Prepare entries in journal form



Prepare entries in journal form without explanations for the merchandising transactions listed below for Kona Company. Assume use of the periodic inventory system.

July 1 Sold merchandise to Tubman Company for $2,000, terms n/15
July 2 Purchased merchandise from Apple Company for $8,000, terms n/15
July 3 Gave credit to Tubman Company for merchandise returned, $200
July 5 Purchased merchandise from Middleton Company for $10,000, terms n/30
July 10 Received payment from Tubman Company for purchase of July 1
July 11 Returned $1,000 in merchandise to Middleton Company for credit
July 13 Paid Apple Company in full for purchase July 2
July 14 Paid Middleton Company in Full for Purchase of July 5


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