## Answers

Date | Particulars | Debit (in $) | Credit (in $) |

Aug 1 | Merchandise Inventory | 7500 | |

Accounts Payable- Aron | 7500 | ||

Aug 5 | Accounts Receivble- Baird | 5200 | |

Sales | 5200 | ||

Cost of goods sold | 1200 | ||

Merchandise inventory | 1200 | ||

Aug 8 | Merchandise Inventory | 5400 | |

Accounts Payable- Waters | 5400 | ||

Aug 9 | Delivery Expense | 125 | |

Cash | 125 | ||

Aug 10 | Sales return | 600 | |

Accounts receivable-Baird | 600 | ||

Merchandise Inventory | 400 | ||

Cost of goods sold | 400 | ||

Aug 12 | Accounts Payable-Water | 400 | |

Purchase Discount | 400 | ||

Aug 14 | Accounts Payable-Aron | 200 | |

Cash | 200 | ||

Aug 15 | Cash | 4600 | |

Account Receivable-Baird | 4600 | ||

Aug 18 | Account Payable- Water | 5400 | |

Purchase discount | 50 | ||

Cash | 4950 | ||

Aug 19 | Accounts Receivable-Tux | 4800 | |

Sales | 4800 | ||

Cost of goods sold | 2400 | ||

Merchandise Inventory | 2400 | ||

Aug 22 | Sales Discount | 500 | |

Accounts Receivable- Tux | 500 | ||

Aug 29 | Cash | 4300 | |

Accounts Receivable- Tux | 4300 | ||

Aug 30 | Accounts Payable- Aron | 7300 | |

Cash | 7300 |

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