Preparing Journal Entries for Lowe's Merchandising Transactions

Income Impact and Dollar Amount:

• Aug. 1: No impact on income
• Aug. 5: +$1,200
• Aug. 8: No impact on income
• Aug. 9: -$125
• Aug. 10: -$200
• Aug. 12: No impact on income
• Aug. 14: No impact on income
• Aug. 15: -$92
• Aug. 18: +$50
• Aug. 19: +$2,400
• Aug. 22: -$500
• Aug. 29: -$43
• Aug. 30: No impact on income

Comparing the total income impact of all transactions, Lowe's experienced a net increase of $2,690 in income.