The following were selected from among the transactions completed by Sandusky Company during December of the current year:Dec. 3. Purchased merchandise on account from Hillsboro Co., list price $38,000, trade discount 25%, terms FOB shipping point, 2/10, n/30, with prepaid freight of $900 added to the invoice.5. Purchased merchandise on account from Deepwater Co., $18,750, terms FOB destination, 2/10, n/30.Dec. 6. Sold merchandise on account to Zion Co., list price $27,000, trade discount 35%, terms 2/10, n/30. The cost of the merchandise sold was $14,000.7. Returned $3,000 of merchandise purchased on December 5 from Deepwater Co.13. Paid Hillsboro Co. on account for purchase of December 3, less discount.15. Paid Deepwater Co. on account for purchase of December 5, less return of December 7 and discount.16. Received cash on account from sale of December 6 to Zion Co., less discount.19. Sold merchandise on MasterCard, $58,000. The cost of the merchandise sold was $34,800.22. Sold merchandise on account to Smith River Co., $15,400, terms 2/10, n/30. The cost of the merchandise sold was $9,000.23. Sold merchandise for cash, $33,600. The cost of the merchandise sold was $20,000.28. Received merchandise returned by Smith River Co. from sale on December 22, $2,400. The cost of the returned merchandise was $1,400.31. Paid MasterCard service fee of $1,750.InstructionsJournalize the transactions.View Solution:
The following were selected from among the



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