Question: Krey Distributing Company completed these merchandising transactions in the month of April.
Apr. 2 Purchased merchandise on account from Am-Bev Co. $8, 700, terms 2/10, n/30.
4 Sold merchandise on account $6,000, terms 2/10, n/30. The cost of the merchandise sold was $3, 700
5 Paid $200 freight on April 4 sale.
6 Received credit rom Am-Bev Co. for merchandise returned $400.
11 Paid Am-Bev Co. in full.
13 Received collections in full from customers billed on April 4
14 Purchased merchandise for cash $4,700.
16 Received refund from supplier for returned merchandise on cash purchase of April 14, $500.
18 Purchased merchandise from Lohr Distributors 5, 500, terms 2/10, n/30.
20 Paid freight on April 18 purchase $180.
23 Sold merchandise for cash $8,300. The cost of the merchandise sold was $5,580.
26 Purchased merchandise for cash $2,300.
27 Paid Lohr Distributors in full.
29 Made refunds to cash customers for returned merchandise $180. The returned merchandise had a cost of $120.
30 Sold merchandise on account $3, 980, terms n/30. The cost of the merchandise sold was $2,500.
Instructions: Journalize the transactions using a perpetual inventory system (in color).