P5-31a journalizing purchase and sale transactions journalize 12147
P5-31A Journalizing purchase and sale transactionsJournalize the following transactions that occurred in September 2015 forAquamarines. No explanations are needed. Identify each accounts payable andaccounts receivable with the vendor or customer name.Sep. 3 Purchased merchandise inventory on account from Shallin Wholesalers, $5,000.Terms 1/15, n/EOM, FOB shipping point.4 Paid freight bill of $80 on September 3 purchase.4 Purchased merchandise inventory for cash of $1,700.6 Returned $500 of […]