BookCalculatorurnal Entries Using the Periodic Inventory Systemhe following selected transactions were completed by Air Systems Company during January of the current year. Air Systems CoJan. 2. Purchased $18,200 of merchandise on account, FOB shipping point, terms 2/15, n/30.5. Paid freight of $190 on the January 2 purchase.6. Returned $2,750 of the merchandise purchased on January 2.13. Sold merchandise on account, $37,300, FOB destination, 1/10, n/30. The cost of merchandise sold was $22,400.15. Paid freight of $215 for the merchandise sold on January 13.discount.17. Paid for the purchase of January 2 less the returm and23. Received payment on account for the sale of January 13 less the discount.Journalize the entries to record the transactions of Air Systems Company.For a compound transaction, if an amount box does not require an entry, leave it blank.Jan. 2Aseseuoend17.836 XAccounts Payable190Freight InJan. 5190Cash2,750Accounts Payable /Jan. 62,750Purchases Returns and AllowancesCheck My WorkAll work saved.eonouat

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Asked Oct 15, 2019
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Book
Calculator
urnal Entries Using the Periodic Inventory System
he following selected transactions were completed by Air Systems Company during January of the current year. Air Systems Co
Jan. 2. Purchased $18,200 of merchandise on account, FOB shipping point, terms 2/15, n/30.
5. Paid freight of $190 on the January 2 purchase.
6. Returned $2,750 of the merchandise purchased on January 2.
13. Sold merchandise on account, $37,300, FOB destination, 1/10, n/30. The cost of merchandise sold was $22,400.
15. Paid freight of $215 for the merchandise sold on January 13.
discount.
17. Paid for the purchase of January 2 less the returm and
23. Received payment on account for the sale of January 13 less the discount.
Journalize the entries to record the transactions of Air Systems Company.
For a compound transaction, if an amount box does not require an entry, leave it blank.
Jan. 2
Aseseuoend
17.836 X
Accounts Payable
190
Freight In
Jan. 5
190
Cash
2,750
Accounts Payable /
Jan. 6
2,750
Purchases Returns and Allowances
Check My Work
All work saved.
e
onouat
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Book Calculator urnal Entries Using the Periodic Inventory System he following selected transactions were completed by Air Systems Company during January of the current year. Air Systems Co Jan. 2. Purchased $18,200 of merchandise on account, FOB shipping point, terms 2/15, n/30. 5. Paid freight of $190 on the January 2 purchase. 6. Returned $2,750 of the merchandise purchased on January 2. 13. Sold merchandise on account, $37,300, FOB destination, 1/10, n/30. The cost of merchandise sold was $22,400. 15. Paid freight of $215 for the merchandise sold on January 13. discount. 17. Paid for the purchase of January 2 less the returm and 23. Received payment on account for the sale of January 13 less the discount. Journalize the entries to record the transactions of Air Systems Company. For a compound transaction, if an amount box does not require an entry, leave it blank. Jan. 2 Aseseuoend 17.836 X Accounts Payable 190 Freight In Jan. 5 190 Cash 2,750 Accounts Payable / Jan. 6 2,750 Purchases Returns and Allowances Check My Work All work saved. e onouat

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