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The following were selected from among the transactions

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The following were selected from among the transactions complete by Stevens Company during March of the current year, journalize the transactions:

March 2nd - Purchased merchandise on account from Doyle Co. List price $15,000, trade discount 20%, terms FOB shipping point, 2/10,n/30 with prepaid transportation costs of $720 added to the invoice.

March 4th - Purchased merchandise on account from Annex Co. $6,000 terms FOB destination 1/10, n/30.

March 6th - Sold merchandise on account to C.F. Howell Co., list price $4,000, trade discount 30%, terms 2/10, n/30. The cost of the merchandise sold was $1,125.

March 16th - Received cash on account from sales of March 6 to C.F. Howell Co. less disount.

March 19th - Sold merchandise on nonbank credit cards and reported accounts ot the card company $3,450. The cost of the merchandise sold was $1,950.

March 31st - Received cash from card company for nonbank credit card sales of March 19, less $340 service fee.

Reference no: EM13594474

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