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2. June 1 June 3 YBM Company completed the following transactions in June of 2018 Purchased Supplies on Account, $740 Purchased inventory on account $5,000,

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2. June 1 June 3 YBM Company completed the following transactions in June of 2018 Purchased Supplies on Account, $740 Purchased inventory on account $5,000, terms, 3/15, n/30 June 7 Sold goods for cash, $2,000 (Cost S1,100) June 10 Found S200 worth of inventory purchased on June 3 to be damaged. June 13 Sold goods on credit $1,000, terms 2/10, n/30. (Cost $550) June 16 Paid for Inventory purchased on June 3 minus the return and the June 20 Gave customer credit of $150 for damaged merchandise from sale of June 22 Received payment in full for sale of June 13 June 24 Purchased Inventory on account $4,200 plus freight charges of $300. June 28 Returned defective merchandise of S325 from purchase of June 24. Returned the inventory discount. June 13. Customer did not return merchandise. Required: a. b. Journalize above entries for YBM Corp. Calculate Gross Profit and Gross Profit %

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