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Journalize the november transactions

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Reference no: EM131122935

The following selected transactions were completed during November between Sycamore Company and Bonita Company:

Nov. 2. Sycamore Company sold merchandise on account to Bonita Company, $16,000, terms FOB shipping point, 2/10, n/30. Sycamore Company paid freight of $375, which was added to the invoice. The cost of the merchandise sold was $10,000.

8. Sycamore Company sold merchandise on account to Bonita Company, $24,750, terms FOB destination, 1/15, n/eom. The cost of the merchandise sold was $14,850.

8. Sycamore Company paid freight of $640 for delivery of merchandise sold to Bonita Company on November 8.

12. Bonita Company returned $5,750 of merchandise purchased on account on November 8 from Sycamore Company. The cost of the merchandise returned was $3,000.

12. Bonita Company paid Sycamore Company for purchase of November 2, less discount.

23. Bonita Company paid Sycamore Company for purchase of November 8, less discount and less return of November 12.

24. Sycamore Company sold merchandise on account to Bonita Company, $13,200, terms FOB shipping point, n/eom. The cost of the merchandise sold was $8,000.

26. Bonita Company paid freight of $290 on November 24 purchase from Sycamore Company.

30. Bonita Company paid Sycamore Company on account for purchase of November 24.

Instructions

Journalize the November transactions for (1) Sycamore Company and (2) Bonita Company. 

Reference no: EM131122935

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