Prepare Journal Entries Without Explanations for the Merchandising Transactions Listed

Essay

Prepare journal entries without explanations for the merchandising transactions listed below for Naveh Corporation.Assume use of the periodic inventory system.
$\begin{aligned}\text { July }1 & \text { Sold merchandise to Hobart Company for } \$ 1,000 \text {, terms } n / 15 \text {. } \\2 & \text { Purchased merchandise from Stowe Corporation for } \$ 4,000 \text {, terms } n / 15 \text {. } \\3 & \text { Gave credit to Hobart Company for merchandise returned, } \$ 100 \text {. } \\5 & \text { Purchased merchandise from Rajah Company for } \$ 5,000 \text {, terms } n / 30 \text {. } \\10 & \text { Received payment from Hobart Company for purchase of July } 1 \text {. } \\11 & \text { Returned } \$ 500 \text { in merchandise to Rajah Company for credit. } \\13 & \text { Paid Stowe Corporation in full for purchase of July } 2 \text {. } \\14 & \text { Paid Rajah Company in full for purchase of July } 5 \text {. }\end{aligned}$