The cost of the merchandise returned was $750.

h. On June 23, Jordan sold another 20 pairs of basketball shoes, on credit, for $110 per pair and 15 pairs of cross-training shoes for $100 cash per pair. The cost of the merchandise sold was $2,400.

i. On June 30, Jordan paid for the June 6 purchase of tennis shoes less the return on June 12.

j. On June 30, Jordan purchased 60 pairs of basketball shoes, on credit, for $75 each.

The shoes were shipped F.O.B. destination and arrived at Jordan on July 3.

Required:

. Prepare the journal entries to record the sale and purchase transactions for Jordan during June 2009.

. Assuming operating expenses of $5,300, prepare Jordan’s income statement for June 2009. (Ignore income tax expense.)