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Prepare an Excel spreadsheet of the journal entries for the first...

Prepare an Excel spreadsheet of the journal entries for the first part of August 2014 for the Pit Bull Sings T-shirt Distributors, based on the following information: AUG 1 – Purchased merchandise from Aerotek Company for $7,500 under credit terms of 1/10, n/30, FOB destination; invoice dated August 1. AUG 4 – At Aerotek’s request, Pit Bull Sings paid $200 cash for freight charges on the August 1 purchase, reducing the amount owed to Aerotek. AUG 5 – Sold merchandise to Laird Corp. for $5,200 under credit terms of 2/10, n/60, FOB destination; invoice dated August 5. The merchandise had a cost of $4,000. AUG 8 – Paid Aerotek for purchase on August 1 within the discount period. AUG 9 – Received payment from Laird for sale on August 4 within the discount period. Instructions: Complete this assignment using an Excel spreadsheet, and date and explain each entry on your deliverable.

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8677021.xlsx
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