Reference no: EM131527603
Question: The following selected transactions were completed by Daffodil Company during March of the current year:
Mar. 1 Purchased merchandise from Fastow Co., $16,000, terms FOB destination, n/30.
3 Purchased merchandise from Moss Co., $9,000, terms FOB shipping point, 2/10, n/eom. Prepaid transportation costs of $150 were added to the invoice.
4 Purchased merchandise from Picadilly Co., $7,500, terms FOB destination, 2/10, n/30.
6 Issued debit memorandum to Picadilly Co. for $1,000 of merchandise returned from purchase on March 4.
13 Paid Moss Co. for invoice of March 3, less discount.
14 Paid Picadilly Co. for invoice of March 4, less debit memorandum of March 6 and discount.
19 Purchased merchandise from Reardon Co., $12,000, terms FOB shipping point, n/eom.
19 Paid transportation charges of $500 on March 19 purchase from Reardon Co.
20 Purchased merchandise from Hatcher Co., $8,000, terms FOB destination, 1/10, n/30.
30 Paid Hatcher Co. for invoice of March 20, less discount.
31 Paid Fastow Co. for invoice of Marth 1.
31 Paid Reardon Co. for invoice of March 19.
Instructions: Journalize the entries to record the transactions of Daffodil Company for March.
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