a) Date Account titles Debit Credit

Dec.3 Account receivable $500,000 1/10,n/30

Sales $500,000
Cost of goods sold 320,000
Merchandise inventory 320,000
8 Sales 28,000
Account receivable 28,000
Merchandise inventory 17,920
Cost of goods sold 17,920
13 Cash 467,280
Sales discounts 4,720
Account receivable 472,000

b) Jan.2 Cash 472,000

Account receivable 472,000
 Date Account titles Debit Credit
Sept.6 Merchandise invetory $1,620
Account payable $1,620 n/30
9 Freight expense 50
Cash 50
10 Account payable 38
Merchandise inventory 38
12 Account receivable 690 n/30
Sales 690
Cost of goods sold 520
Merchandise inventory 520
14 Sales 45
Account receivable 45
Merchandise invetory 34
Cost of goods sold 34
20 Account receivable 760 n/30
Sales 760
Cost of goods sold 570
Merchandise inventory 570
a) Hopson Conpany

Date Account titles Debit Credit

June 10 Mechandise inventory $8,000
Account payable $8,000 3/10, n/30
11 Freight expense 400
Cash 400
12 Account payable 500
Mechandise inventory 500
19 Account payable 7,500
Cash discount 225
cash 7,275

b) Gore Company

Date Account titles Debit Credit

June 10 Account receivable $8,000 3/10, n/30
Sales $8,000
Cost of goods sold 5,000
Mechandise inventory 5,000
12 Sales 500
Account receivable 500
Mechandise inventory 310
Cost of goods sold 310
19 Cash 7,275
Sales discount 225
Account receivable 7,500