Reference no: EM131122918
The following selected transactions were completed by Padre Co. during October of the current year:
Oct. 1. Purchased merchandise from Wood Co., $15,500, terms FOB shipping point, 2/10, n/eom. Prepaid freight of $400 was added to the invoice.
5. Purchased merchandise from Davis Co., $14,150, terms FOB destination, n/30.
10. Paid Wood Co. for invoice of October 1, less discount.
13. Purchased merchandise from Folts Co., $8,000, terms FOB destination, 1/10, n/30.
14. Issued debit memo to Folts Co. for $1,500 of merchandise returned from purchase on October 13.
18. Purchased merchandise from Lakey Company, $12,250, terms FOB shipping point, n/eom.
18. Paid freight of $180 on October 18 purchase from Lakey Company.
19. Purchased merchandise from Noman Co., $11,150, terms FOB destination, 2/10, n/30.
23. Paid Folts Co. for invoice of October 13, less debit memo of October 14 and discount.
29. Paid Noman Co. for invoice of October 19, less discount.
31. Paid Lakey Company for invoice of October 18.
31. Paid Davis Co. for invoice of October 5.
Instructions
Journalize the entries to record the transactions of Padre Co. for October.