Question

ect Exercise [due Mon] i Saved cord the following transactions of J. Min Designs in a general journal. The company uses the perpe DATE 2019 April 1 Purchased merchandise on credit from O'Rourke Fabricators, Invoice 885, TRANSACTIONS $3,350, terms 2/10, n/30; freight of $55 prepaid by o'Rourke Fabricators and added to the invoice (total invoice amount, $3,405). 9 Paid amount due to O'Rourke Fabricators for the purchase of April 1, less the 2 percent discount, Check 457. 15 Purchased merchandise on credit from Kroll Company, Invoice 145, $1, 600, terms 1/10, n/30; freight of $110 prepaid by Kroll invoice. and added to the Returned damaged merchandise purchased on April 15 from Kroll Company; received Credit Memorandum 332 for $85. 24 Paid the amount due to Kroll Company for the purchase of April 15, less the return on April 17, taking the 1 percent discount, Check 470. 17 ecord these transactions in a general journal. (Round final answers to the nearest whole dollar value.) Miew transacion list Journal entry worksheet 2.

Answer 1

Date	General Journal	Debit	Credit
April 01, 2019	Merchandise inventory	3405
	Accounts payable		3405
	(To record merchandise purchased on account)
April 09, 2019	Accounts payable	3405
	Merchandise inventory (2% x $3350)		67
	Cash		3338
	(To record payment on account)
April 15, 2019	Merchandise inventory ($1600 + $110)	1710
	Accounts payable		1710
	(To record merchandise purchased on account)
April 17, 2019	Accounts payable	85
	Merchandise inventory		85
	(To record purchase returns)
April 24, 2019	Accounts payable ($1710 - $85)	1625
	Merchandise inventory [1% x ($1600 - $85)]		15
	Cash		1610
	(To record payment on account)