Apr. 2 Purchased merchandise on account from Walker Supply €6,200, terms 1/10, n/30.
4 Sold merchandise on account €5,500, FOB destination, terms 1/10, n/30. The cost of the merchandise sold was €3,400.
5 Paid €240 freight on April 4 sale.
6 Received credit from Walker Supply for merchandise returned €500.
11 Paid Walker Supply in full, less discount.
13 Received collections from customers billed on April 4.
14 Purchased merchandise for cash €3,800.
16 Received refund from supplier for returned goods on cash purchase of April 14, €500.
18 Purchased merchandise from Benjamin Glassware €4,500, FOB shipping point, terms 2/10, n/30.
20 Paid freight on April 18 purchase €160.
23 Sold merchandise for cash €7,400. The merchandise sold had a cost of €4,120.
26 Purchased merchandise for cash €2,300.
27 Paid Benjamin Glassware in full, less discount.
29 Made refunds to cash customers for defective merchandise €90. The returned merchandise had a fair value of €30.
30 Sold merchandise on account €3,400, terms n/30. The cost of the merchandise sold was €1,900.
Instructions: 1. Journalize the transactions using a periodic inventory system.
