Prepare journal entries without explanations for the merchandising transactions listed below for Naveh Corporation.Assume use of the periodic inventory system.
$\begin{aligned}
\text { July }1 & \text { Sold merchandise to Hobart Company for } \$ 1,000 \text {, terms } n / 15 \text {. } \
2 & \text { Purchased merchandise from Stowe Corporation for } \$ 4,000 \text {, terms } n / 15 \text {. } \
3 & \text { Gave credit to Hobart Company for merchandise returned, } \$ 100 \text {. } \
5 & \text { Purchased merchandise from Rajah Company for } \$ 5,000 \text {, terms } n / 30 \text {. } \
10 & \text { Received payment from Hobart Company for purchase of July } 1 \text {. } \
11 & \text { Returned } \$ 500 \text { in merchandise to Rajah Company for credit. } \
13 & \text { Paid Stowe Corporation in full for purchase of July } 2 \text {. } \
14 & \text { Paid Rajah Company in full for purchase of July } 5 \text {. }
\end{aligned}$

Question

Prepare journal entries without explanations for the merchandising transactions listed below for Naveh Corporation.Assume use of the periodic inventory system.
 $\begin{aligned}
\text { July }1 & \text { Sold merchandise to Hobart Company for } \$ 1,000 \text {, terms } n / 15 \text {. } \
2 & \text { Purchased merchandise from Stowe Corporation for } \$ 4,000 \text {, terms } n / 15 \text {. } \
3 & \text { Gave credit to Hobart Company for merchandise returned, } \$ 100 \text {. } \
5 & \text { Purchased merchandise from Rajah Company for } \$ 5,000 \text {, terms } n / 30 \text {. } \
10 & \text { Received payment from Hobart Company for purchase of July } 1 \text {. } \
11 & \text { Returned } \$ 500 \text { in merchandise to Rajah Company for credit. } \
13 & \text { Paid Stowe Corporation in full for purchase of July } 2 \text {. } \
14 & \text { Paid Rajah Company in full for purchase of July } 5 \text {. }
\end{aligned}$

Quizplus · Accepted Answer

The Answer of Prepare journal entries without explanations for the merchandising transactions listed below for Naveh Corporation.Assume use of the periodic inventory system.
 $\begin{aligned}
\text { July }1 & \text { Sold merchandise to Hobart Company for } \$ 1,000 \text {, terms } n / 15 \text {. } \
2 & \text { Purchased merchandise from Stowe Corporation for } \$ 4,000 \text {, terms } n / 15 \text {. } \
3 & \text { Gave credit to Hobart Company for merchandise returned, } \$ 100 \text {. } \
5 & \text { Purchased merchandise from Rajah Company for } \$ 5,000 \text {, terms } n / 30 \text {. } \
10 & \text { Received payment from Hobart Company for purchase of July } 1 \text {. } \
11 & \text { Returned } \$ 500 \text { in merchandise to Rajah Company for credit. } \
13 & \text { Paid Stowe Corporation in full for purchase of July } 2 \text {. } \
14 & \text { Paid Rajah Company in full for purchase of July } 5 \text {. }
\end{aligned}$

Prepare Journal Entries Without Explanations for the Merchandising Transactions Listed