Paid black hawk delivery service 3875 for merchandise

Reference no: EM13482264

The following selected transactions were completed by Yukon Supply Co., which sells office supplies primarily to wholesalers and occasionally to retail customers:

1. Sold merchandise on account to Oakley Co., $8,000, terms FOB destination, 1/10, n/30. The cost of the merchandise sold was $4,500.
2. Sold merchandise for $21,800 plus 8% sales tax to retail cash customers. The cost of merchandise sold was $13,000.
3. Sold merchandise on account to Rawlins Co., $7,500, terms FOB shipping point, n/eom. The cost of merchandise sold was $4,200.
4. Sold merchandise for $10,000 plus 8% sales tax to retail customers who used MasterCard. The cost of merchandise sold was $6,000.
5. Received check for amount due from Oakley Co. for sale on January 2.
6. Sold merchandise to customers who used American Express cards, $6,000.
The cost of merchandise sold was $3,200.
7. Sold merchandise on account to Keystone Co., $16,500, terms FOB shipping point, 1/10, n/30. The cost of merchandise sold was $10,000.
8. Issued credit memo for $2,000 to Keystone Co. for merchandise returned from sale on January 16. The cost of the merchandise returned was $1,200.
9. Sold merchandise on account to Cooney Co., $15,750, terms FOB shipping point, 2/10, n/30. Added $400 to the invoice for prepaid freight. The cost of merchandise sold was $9,500.
10. Received check for amount due from Keystone Co. for sale on January 16 less credit memo of January 18 and discount.
11. Received check for amount due from Cooney Co. for sale of January 19.
12. Received check for amount due from Rawlins Co. for sale of January 4.
13. Paid Black Hawk Delivery Service $3,875 for merchandise delivered during January to customers under shipping terms of FOB destination.
Feb. 3. Paid City Bank $1,150 for service fees for handling MasterCard and American Express sales during January.
14. Paid $3,600 to state sales tax division for taxes owed on sales.
Instructions
Journalize the entries to record the transactions of Yukon Supply Co.

Reference no: EM13482264

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