Warwick’s Co., a women’s clothing store, purchased $75,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. Warwick’s returned $9,000 of the merchandise, receiving a credit memo.Journalize Warwick’s entries to record (a) the purchase, (b) the merchandise return, and (c) the payment within the discount period of ten days, and (d) payment beyond the discount period of ten days. Refer to the Chart of Accounts for exact wording of account titles. For grading purposes use December 31 as the date for all transactions. Chart of Accounts CHART OF ACCOUNTSWarwick’s Co.General Ledger ASSETS110Cash120Accounts Receivable125Notes Receivable130Inventory131Estimated Returns Inventory140Office Supplies141Store Supplies142Prepaid Insurance180Land192Store Equipment193Accumulated Depreciation-Store Equipment194Office Equipment195Accumulated Depreciation-Office Equipment LIABILITIES210Accounts Payable216Salaries Payable218Sales Tax Payable219Customer Refunds Payable220Unearned Rent221Notes Payable EQUITY310Common Stock311Retained Earnings312Dividends313Income Summary REVENUE410Sales610Rent Revenue EXPENSES510Cost of Goods Sold521Delivery Expense522Advertising Expense524Depreciation Expense-Store Equipment525Depreciation Expense-Office Equipment526Salaries Expense531Rent Expense533Insurance Expense534Store Supplies Expense535Office Supplies Expense536Credit Card Expense539Miscellaneous Expense710Interest Expense Journal Journalize Warwick’s entries to record (a) the purchase, (b) the merchandise return, and (c) the payment within the discount period of ten days, and (d) payment beyond the discount period of ten days on December 31. Refer to the Chart of Accounts for exact wording of account titles. For grading purposes use December 31 as the date for all transactions.PAGE 10 JOURNAL ACCOUNTING EQUATION DATEDESCRIPTIONPOST. REF.DEBITCREDITASSETSLIABILITIESEQUITY1dec 31 2 3 4 5 6 7 8 9 526 Salaries Expense192 Store Equipment531 Rent Expense193 Accumulated Depreciation-Store Equipment533 Insurance Expense194 Office Equipment195 Accumulated Depreciation-Office Equipment534 Store Supplies Expense535 Office Supplies ExpenseLIABILITIES536 Credit Card Expense210 Accounts Payable539 Miscellaneous Expense216 Salaries Payable710 Interest Expense218 Sales Tax Payable219 Customer Refunds Payable220 Unearned Rent221 Notes PayableEQUITY310 Common Stock311 Retained Earnings312 Dividends313 Income SummaryJournalJournalize Warwick's entries to record (a) the purchase, (b) the merchandise return, and (c) the payment within the discount period of ten days, and (d) payment beyond the discount period of ten days on December 31. Refer to the Chart of Accounts for exact wording of account titles. For grading purposes use December 31 as the date for all transactions.PAGE 10JOURNALACCOUNTING EQUATIONPOST. REF.DEBITCREDITASSETSLIABILITIESEQUITYDATEDESCRIPTION16. Warwick's Co., a women's clothing store, purchased $75,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. Warwick's returned $9,000 of the merchandise, receiving a credit memoJournalize Warwick's entries to record (a) the purchase, (b) the merchandise return, and (c) the payment within the discount period of ten days, and (d) payment beyond the discount period of ten days. Refer to the Chart of Accounts for exact wording of account titles. For grading purposes use December 31 as the date for all transactions.Chart of AccountsCHART OF ACCOUNTSWarwick's Co.General LedgerASSETSREVENUE110 Cash410 Sales120 Accounts Receivable610 Rent Revenue125 Notes Receivable130 InventoryEXPENSES131 Estimated Returns Inventory510 Cost of Goods Sold140 Office Supplies521 Delivery Expense141 Store Supplies522 Advertising Expense142 Prepaid Insurance524 Depreciation Expense-Store Equipment180 Land525 Depreciation Expense-Office Equipment192 Store Equipment526 Salaries Expense193 Accumulated Depreciation-Store Equipment531 Rent Expense194 Office Equipment533 Insurance Expense195 Accumulated Depreciation-Office Equipment534 Store Supplies Expense535 Office Supplies ExpenseLIABILITIES536 Credit Card Expense210 Accounts Payable539 Miscellaneous Expense216 Salaries Payable710 Interest Expense218 Sales Tax Payable219 Customer Refunds Payable220 Unearned Rent221 Notes PayableEQUITY310 Common Stock311 Retained Earnings312 Dividends313 Income Summary

Journal Entries:- A journal entries are used to record business transactions in the books of…

Warwick’s Co., a women’s clothing store, purchased $75,000 of merchandise from a supplier on account, terms FOB destination, 2/10, n/30. Warwick’s returned $9,000 of the merchandise, receiving a credit memo. Journalize Warwick’s entries to record (a) the purchase, (b) the merchandise return, and (c) the payment within the discount period of ten days, and (d) payment beyond the discount period of ten days. Refer to the Chart of Accounts for exact wording of account titles. For grading purposes use December 31 as the date for all transactions. Chart of Accounts CHART OF ACCOUNTS Warwick’s Co. General Ledger ASSETS 110 Cash 120 Accounts Receivable 125 Notes Receivable 130 Inventory 131 Estimated Returns Inventory 140 Office Supplies 141 Store Supplies 142 Prepaid Insurance 180 Land 192 Store Equipment 193 Accumulated Depreciation-Store Equipment 194 Office Equipment 195 Accumulated Depreciation-Office Equipment LIABILITIES 210 Accounts Payable 216 Salaries Payable 218 Sales Tax Payable 219 Customer Refunds Payable 220 Unearned Rent 221 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends 313 Income Summary REVENUE 410 Sales 610 Rent Revenue EXPENSES 510 Cost of Goods Sold 521 Delivery Expense 522 Advertising Expense 524 Depreciation Expense-Store Equipment 525 Depreciation Expense-Office Equipment 526 Salaries Expense 531 Rent Expense 533 Insurance Expense 534 Store Supplies Expense 535 Office Supplies Expense 536 Credit Card Expense 539 Miscellaneous Expense 710 Interest Expense Journal Journalize Warwick’s entries to record (a) the purchase, (b) the merchandise return, and (c) the payment within the discount period of ten days, and (d) payment beyond the discount period of ten days on December 31. Refer to the Chart of Accounts for exact wording of account titles. For grading purposes use December 31 as the date for all transactions. PAGE 10 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY 1 dec 31 2 3 4 5 6 7 8 9