Need journal entries1-Jun Paid rent for June, $36003-Jun Purchased merchandise on account from ABC Company for $9000 Terms 2/10, n/30, FOB shipping point.We were billed $135 for shipping which was added to our invoice4-Jun Returned $1800 of the merchandise purchased on June 3 from ABC Company6-Jun Sold $13500 of Merchandise on account to EFG Company, terms 1/20, n/30, FOB shipping point. The cost of merchandise sold was $4500 and we paid $225 for shipping which was billed and added to the customer’s invoice7-Jun EFG company returned $1350 of the merchandise purchased on June 6. The cost of merchandise sold was $9008-Jun Paid Misc. Selling Expense of $450 and Misc. Administrative Expense of $909-Jun Purchased on account $315 of Store Supplies.13-Jun Paid ABC Company for the purchase made on June 3rd, less the return of June 4th16-Jun Purchased store supplies for $90 cash.17-Jun Received cash from EFG Company for the sale of June 6, less the return of June 7th.25-Jun Paid Sales Salaries Expense of $585 and Office Salaries Expense of $67530-Jun Owner withdrew $450Date Journal Entries Ref. Debit CreditJun. 1 Rent Expense 513 3,600.00 Cash 110 3,600.00 Jun. 3 Merchandise Inventory 115 8,955.00 Accounts Payable – ABC Co. 210 8,955.00 Jun. 4 Accounts Payable – ABC Co. 210 1,764.00 Merchandise Inventory 115 1,764.00 Jun. 6 Accounts Receivable – EFG Co. 112 13,590.00 Sales 410 13,365.00 Cash 510 225.00 Cost of Merchandise Sold 110 4,500.00 Merchandise Inventory 115 4,500.00 Post Page 2 Date Journal Entries Ref. Debit CreditJun. 7 Customer Refunds Payable 212 1,336.50 Accounts Receivable- EFG Co. 112 1,336.50 Merchandise Inventory 115 900.00 Cost of Merchandise Sold 510 900.00 Jun. 8 Misc. Selling Expense 517 450.00 Cash 110 450.00 Misc. Administrative Exp. 518 90.00 Cash 110 90.00 Jun. 9 Store Supplies 117 315.00 Accounts Payable 210 315.00 Jun. 13 Accounts Payable 210 8,955.00 Cash 110 8,955.00 Jun. 16 Store Supplies 117 90.00 Cash 110 90.00 Jun. 17 Cash 110 12,028.50 Accounts Receivable – EFG Co. 112 12,028.50 Jun. 25 Sales Salaries Exp. 512 585.00 Cash 110 585.00 Office Salaries Exp 511 675.00 Cash 110 675.00 Jun. 30 Larkin, Drawing 311 450.00 Cash 110 450.00
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