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P5-29A (20-25 min.) Journal Date Accounts and Explanations Post Ref.

"Terry's Amusements completed in the following transactions during May:
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May 1 Purchased supplies for cash, $300.
4 Purchased inventory on credit terms of 3/10 net eom, $6,000.
8 Returned half the inventory purchased on May 4. It was not the inventory ordered.
10 Sold goods for cash, $450 (cost, $250).
13 Sold inventory on credit terms of 2/15, n/45, $3,900 (cost, $1,800).
14 Paid the amount owed on account from May 4, less the return (May 8) and the discount.
17 Received defective inventory as a sales return from the May 13 sale, $900. Terry's cost of the inventory received was $600.
18 Purchased inventory of $5,000 on account. Payment terms were 2/10 net 30.
26 Paid the net amount owed for the May 18 purchase.
28 received cash in full settlement of the account from the customer who purchased inventory on May 13, less the return and the discount.
29 Purchased inventory for cash, $2,000, plus freight charges of $160."
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Journalize the preceding transactions.

these informations are all i got. i just copied all from the book.

P5-29A (20-25 min.) Journal Date Accounts and Explanations Post Ref. Debit Credit
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Accounting.xls

If you want the formulas and any calculations, select the corresponding cell and press F2(Function Key on key board),
It will show all calculations and formulas Automatically
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