The following selected transactions were completed by Air Systems Company during January of the current year. Air Systems Company uses the periodic system.
Jan. 2. Purchased $18,200 of merchandise on account, FOB shipping point terms 2/15, n/30.
5. paid freight of $190 on the Jan. 2 purchase.
6. Returned $2,750 of the merchandise purchased on Jan. 2
13. Sold merchandise on account $37,300, FOB destination, 1/10, n/30. The cost of merchandise sold was $22,400.
15. Paid freight of $215 for the merchandise sold on Jan. 13
17. Paid for the purchase of January 2 less the return and discount.
23. Received payment on account for the sale of Jan. 13 less the discount.
Journalize the entries to record the transactions of Air Systems Company.