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

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

Mar. 2. Sold merchandise on account to Equinox Co., $18,900, terms FOB destination, 1/10, n/30. The cost of the merchandise sold was $13,300.
 3. Sold merchandise for $11,350 plus 6% sales tax to retail cash customers. The cost of merchandise sold was $7,000.
 4. Sold merchandise on account to Empire Co., $55,400, terms FOB shipping point, n/eom. The cost of merchandise sold was $33,200.
 5. Sold merchandise for $30,000 plus 6% sales tax to retail customers who used MasterCard. The cost of merchandise sold was $19,400.
12. Received check for amount due from Equinox Co. for sale on March 2.
14. Sold merchandise to customers who used American Express cards, $13,700. The cost of merchandise sold was $8,350.
16. Sold merchandise on account to Targhee Co., $27,500, terms FOB shipping point, 1/10, n/30. The cost of merchandise sold was $16,000.
18. Issued credit memo for $4,800 to Targhee Co. for merchandise returned from sale on March 16. The cost of the merchandise returned was $2,900.
19. Sold merchandise on account to Vista Co., $8,250, terms FOB shipping point, 2/10, n/30. Added $75 to the invoice for prepaid freight. The cost of merchandise sold was $5,000.
26. Received check for amount due from Targhee Co. for sale on March 16 less credit memo of March 18 and discount.
28. Received check for amount due from Vista Co. for sale of March 19.
31. Received check for amount due from Empire Co. for sale of March 4.
31. Paid Fleetwood Delivery Service $5,600 for merchandise delivered during March to customers under shipping terms of FOB destination.
Apr. 3. Paid City Bank $940 for service fees for handling MasterCard and American Express sales during March.
15. Paid $6,544 to state sales tax division for taxes owed on sales.

Instructions
Journalize the entries to record the transactions of Amsterdam Supply Co.


Answer:
























































Mar. 2 Accounts Receivable—Equinox Co. 18,900
Sales 18,900
2 Cost of Merchandise Sold 13,300
Merchandise Inventory 13,300
3 Cash 12,031
Sales 11,350
Sales Tax Payable 681
3 Cost of Merchandise Sold 7,000
Merchandise Inventory 7,000
4 Accounts Receivable—Empire Co. 55,400
Sales 55,400
4 Cost of Merchandise Sold 33,200
Merchandise Inventory 33,200
5 Cash 31,800
Sales 30,000
Sales Tax Payable 1,800
5 Cost of Merchandise Sold 19,400
Merchandise Inventory 19,400
12 Cash 18,711
Sales Discounts 189
Accounts Receivable—Equinox Co. 18,900
14 Cash 13,700
Sales 13,700
14 Cost of Merchandise Sold 8,350
Merchandise Inventory 8,350
16 Accounts Receivable—Targhee Co. 27,500
Sales 27,500
16 Cost of Merchandise Sold 16,000
Merchandise Inventory 16,000
Mar. 18 Sales Returns and Allowances 4,800
Accounts Receivable—Targhee Co. 4,800
18 Merchandise Inventory 2,900
Cost of Merchandise Sold 2,900
19 Accounts Receivable—Vista Co. 8,250
Sales 8,250
19 Accounts Receivable—Vista Co. 75
Cash 75
19 Cost of Merchandise Sold 5,000
Merchandise Inventory 5,000
26 Cash 22,473
Sales Discounts 227
Accounts Receivable—Targhee Co. 22,700
28 Cash 8,160
Sales Discounts 165
Accounts Receivable—Vista Co. 8,325
31 Cash 55,400
Accounts Receivable—Empire Co. 55,400
31 Delivery Expense 5,600
Cash 5,600
Apr. 3 Credit Card Expense 940
Cash 940
15 Sales Tax Payable 6,544
Cash 6,544