Reference no: EM131527600
Question: The following selected transactions were completed during March between Snyder Company and Brooks Co.:
Mar. 1 Snyder Company sold merchandise on account to Brooks Co., $12,750, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $6,000.
2 Snyder Company paid transportation costs of $150 for delivery of merchandise sold to Brooks Co. on March 1.
5 Snyder Company sold merchandise on account to Brooks Co., $18,500, terms FOB shipping point, n/eom. The cost of the merchandise sold was $11,000.
6 Brooks Co. returned $2,000 of merchandise purchased on account on March 1 from Snyder Company. The cost of the merchandise returned was $1,200.
9 Brooks Co. paid transportation charges of $180 on March 5 purchase from Snyder Company.
15 Snyder Company sold merchandise on account to Brooks Co., $20,000, terms FOB shipping point, 1/10, n/30. Snyder Company paid transportation costs of $1,750, which were added to the invoice. The cost of the merchandise sold was $12,000.
16 Brooks Co. paid Snyder Company for purchase of March 1, less discount and less return of March 6.
25 Brooks Co. paid Snyder Company on account for purchase of March 15, less discount.
31 Brooks Co. paid Snyder Company on account for purchase of March 5.
Instructions: Journalize the March transactions for (1) Snyder Company and (2) Brooks Co.
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