Journalize the following transactions that occurred in September 2018 for Cardinal. Assume Cardinal uses the gross method to record sales revenue. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name.
Sep. 3 Purchased merchandise inventory on account from Sherry Wholesalers, \(4,000. Terms 1/15, n/EOM, FOB shipping point.
4 Paid freight bill of \)75 on September 3 purchase.
4 Purchased merchandise inventory for cash of \(1,900.
6 Returned \)1,100 of inventory from September 3 purchase.
8 Sold merchandise inventory to Houston Company, \(5,500, on account. Terms 3/15, n/35. Cost of goods, \)2,365.
9 Purchased merchandise inventory on account from Tarin Wholesalers, \(12,000. Terms 3/10, n/30, FOB destination.
10 Made payment to Sherry Wholesalers for goods purchased on September 3, less return and discount.
13 After negotiations, received a \)200 allowance from Tarin Wholesalers.
15 Sold merchandise inventory to Java Company, \(3,300, on account. Terms 2/10, n/EOM. Cost of goods, \)1,320.
22 Made payment, less allowance, to Tarin Wholesalers for goods purchased on September 9.
25 Sold merchandise inventory to Smecker for \(1,900 on account that cost \)722. Terms of 1/10, n/30 were offered, FOB shipping point. As a courtesy to Smecker, $85 of freight was added to the invoice for which cash was paid by Cardinal.
28 Received payment from Houston Company.
29 Received payment from Smecker, less discount.
30 Received payment from Java Company.
