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2. YBM Company completed the following transactions in June of 2018 June 1 Purchased Supplies on Account, $740 June 3 Purchased inventory on account $5,000,
2. YBM Company completed the following transactions in June of 2018 June 1 Purchased Supplies on Account, $740 June 3 Purchased inventory on account $5,000, terms, 3/15, n/30 June 7 Sold goods for cash, $2,000 (Cost $1,100) 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 S550) June 16 Paid for Inventory purchased on June 3 minus the return and the Returned the inventory discount. June 20 Gave customer credit of S150 for damaged merchandise from sale of June 22 June 24 June 28 June 13. Customer did not return merchandise. Received payment in full for sale of June 13 Purchased Inventory on account $4,200 plus freight charges of s300. Returned defective merchandise of S325 from purchase of June 24. Required: a. Journalize above entries for YBM Corp. b. Calculate Gross Profit and Gross Profit % 2. YBM Company completed the following transactions in June of 2018 June 1 Purchased Supplies on Account, $740 June 3 Purchased inventory on account $5,000, terms, 3/15, n/30 June 7 Sold goods for cash, $2,000 (Cost $1,100) 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 S550) June 16 Paid for Inventory purchased on June 3 minus the return and the Returned the inventory discount. June 20 Gave customer credit of S150 for damaged merchandise from sale of June 22 June 24 June 28 June 13. Customer did not return merchandise. Received payment in full for sale of June 13 Purchased Inventory on account $4,200 plus freight charges of s300. Returned defective merchandise of S325 from purchase of June 24. Required: a. Journalize above entries for YBM Corp. b. Calculate Gross Profit and Gross Profit %
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