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Jones, Inc. made the following purchases from Golf, Inc. in the month of September:2Purchased $7,500 ...

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Jones, Inc. made the following purchases from Golf, Inc. in the month of September:2Purchased $7,500 ...

Jones, Inc. made the following purchases from Golf, Inc. in the month of September:
2   Purchased $7,500 of merchandise, terms 1/10, n/30, FOB shipping point. The goods were received on September 8 and the invoice was dated September 7.
5   Purchased $5,000 of merchandise, terms 2/10, n/45, FOB shipping point. The goods were received on September 10 and the invoice was dated September 10.
10   Purchased $12,000 of merchandise, terms 3/10, n/15, FOB destination. The goods were received on September 18 and the invoice was dated September 19.
REQUIRED:
For each transaction listed above
a.)   Journalize the transactions for the month of September. For each of the transactions assume freight was $500.
b.)   Journalize the payment of the above transactions assuming the company takes advantage of the discounts offered.

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