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In: AccountingSales-Related and Purchase-Related Transactions for Seller andBuyer Using Perpetual Inventory SystemThe following selected transactions...Sales-Related and Purchase-Related Transactions for Seller andBuyer Using Perpetual Inventory SystemThe following selected transactions were completed during Aprilbetween Swan Company and Bird Company:Apr.2.Swan Company sold merchandise on account to Bird Company,$13,700, terms FOB shipping point, 2/10, n/30. Swan Company paidfreight of $290, which was added to the invoice. The cost of themerchandise sold was $8,600.8.Swan Company sold merchandise on account to Bird Company,$31,000, terms FOB destination, 1/15, n/30. The cost of themerchandise sold was $18,600.8.Swan Company paid freight of $740 for delivery of merchandisesold to Bird Company on April 8.12.Bird Company paid Swan Company for purchase of April 2.18.Swan Company paid Bird Company a refund of $2,000 for defectivemerchandise in the April 2 purchase. Bird Company agreed to keepthe merchandise.23.Bird Company paid Swan Company for purchase of April 8.24.Swan Company sold merchandise on account to Bird Company,$9,300, terms FOB shipping point, n/45. The cost of the merchandisesold was $5,600.26.Bird Company paid freight of $280 on April 24 purchase fromSwan Company.30.Swan Company granted a customer allowance (credit memo) to BirdCompany for $11,300 for merchandise that was returned from theAugust 24 purchase. The cost of the merchandise returned was$6,500.Required:1. Journalize the April transactions for BirdCompany (the buyer).DateAccountDebitCreditApr. 2Merchandise InventoryAccounts Payable-Swan CompanyDateAccountDebitCreditApr. 8Merchandise InventoryAccounts Payable-Swan CompanyDateAccountDebitCreditApr. 12Accounts Payable-Swan CompanyCashDateAccountDebitCreditApr. 18CashMerchandise InventoryDateAccountDebitCreditApr. 23Accounts Payable-Swan CompanyCashDateAccountDebitCreditApr. 24Merchandise InventoryAccounts Payable-Swan CompanyDateAccountDebitCreditApr. 26Merchandise InventoryCashDateAccountDebitCreditApr. 30Accounts Payable-Swan CompanyMerchandise Inventory2. Journalize the April transactions for SwanCompany (the seller).DateAccountDebitCreditApr. 2-saleAccounts Receivable-Bird CompanySalesDateAccountDebitCreditApr. 2-freightAccounts Receivable-Bird CompanyCashDateAccountDebitCreditApr. 2-costCost of Merchandise SoldMerchandise InventoryDateAccountDebitCreditApr. 8-saleAccounts Receivable-Bird CompanySalesDateAccountDebitCreditApr. 8-costCost of Merchandise SoldMerchandise InventoryDateAccountDebitCreditApr. 8-freightDelivery ExpenseCashDateAccountDebitCreditApr. 12CashAccounts Receivable-Bird CompanyDateAccountDebitCreditApr. 18CashDateAccountDebitCreditApr. 23CashAccounts Receivable-Bird CompanyDateAccountDebitCreditApr. 24-saleAccounts Receivable-Bird CompanySalesDateAccountDebitCreditApr. 24-costCost of Merchandise SoldMerchandise InventoryDateAccountDebitCreditApr. 30Customer Refunds PayableAccounts Receivable-Bird CompanyDateAccountDebitCreditApr. 30Merchandise InventoryEstimated Returns Inventory