1. October 6 The customer in the October 1 sale returned $150 of merchandise for full credit. The merchandise, which had cost $90, is returned to inventory.

Following are the merchandising transactions for chiltonsystems

1. On November 1, Chilton systems purchases merchandise for$2000 on credit with terms of 2/5,n/30, FOB shipping point; invoicedated November 1st

2.On november 5, Chilton systems pays cash for the november 1stpurchase

3. On november 7, chilton systems discovers and returns $125 ofdefective merchandise purchased on november 1st for a cashrefund.

4.on november 10, chilton systems pays $100 cash fortransportation costs with the november 1st purchase

5. On November 13, Chilton sysytems sells merchandise for $2160on credit. The cost of the merchandise is $1080

6.On November 16, the customer returns merchandise from theNovember 1st transaction. The returned items are priced at $235 andcost $118; the items were not damaged and were returned toinventory.

Journalize the above merchandising transactions for ChiltonSystems assuming it uses a perpetual inventory system

Following are the merchandising transactions for Dollar Store.

Journalize the above merchandising transactions for the Dollar Store assuming it uses a perpetual inventory system and the gross method.

Aug. 5 Sold merchandise to Laird Corp. for $5,740 under credit terms of 2/10, n/60, FOB destination, invoice dated August 5. The merchandise had cost $4,098.

Aug. 10 Laird returned merchandise from the August 5 sale that had cost Sheng $683 and been sold for $957. The merchandise was restored to inventory.

Aug 15. received the balance due from Laird corp. for the august 5 sale less the return on August 10.

Journalize the following transactions.