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Vianova Trading Co. Started new merchandising bu by the beginning of the year 2021 ,...

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Accounting

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Vianova Trading Co. Started new merchandising bu by the beginning of the year 2021 , their first month transactions are as follows: Jan, 2 Purchased $5,500 of merchandise inventory for cash. Jan, 3 Returned $300 of defective merchandised purchased on Jan, 2. The seller promised to pay for purchase returned after one month. Jan, 4 Purchased $9,000 of merchandise inventory on account under terms of 3/15,n/30. Jan, 5 Returned $1,500 of defective merchandise Purchased on Jan, 4. Jan, 6 Paid a $250 freight bill on Jan, 5 Purchase. Jan, 9 Sold merchandise inventory on account for $12,500 Payment terms were 5/20, n/EOM. These goods Cost the company $7,800. Jan, 11 Paid $400 fright bill on Jan, 9 sales. Jan, 12 Paid the amount owed from Jan, 4 purchases. Jan, 13 Received defective inventory as a sales return From Jan, 9 sale, $1,000. Cost of goods $650. Jan, 25 Received cash from Jan, 9 customer in full settlement of their debts. Requirement: Record the transaction in the General Journal

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