arest w - - More info Jun 0 Jul 20 Purchased inventory of $5,000 on account from Shepard Diamonds, a jewelry importer Terms were 1/15, n/45, FOB shipping point 20 Paid freight charges, $600. 4 Returned $700 of inventory to Shepard, 14 Paid Shepard Diamonds less return 16 Purchased inventory of $4,200 on account from Sugarman Diamonds, a jewelry importer Terms were 1/10, n/EOM, FOB destination 18 Received a $900 allowance from Sugarman for damaged but usable goods. 24 Paid Sugarman Diamonds less allowance and discount Print Done Journalize all necessary transactions in the order they are presented in the transaction list. (Record debits first, then credits. Exclude explorations from journal entries Ro Jun 20 Purchased inventory of $5,000 on account from Shepard Diamonds, a jewelry importer Terms were 1/15, 1/45, FOB shipping point Date Accounts Debit Credit Juni 20 Merchandise Inventory 5000 Accounts Payable 5000 Jun 20. Pald freight charges, 5600 Debit Credit Date Jun 20 Accounts Merchandise Inventory 300 600 Jul 4: Returned $700 of inventory to Shepard Date Accounts Credit Debit 700 Jul 4 Accounts Payable Merchandise Inventory 700 Date Accounts Debit Credit Jul 14 4300 Accounts Payable Cash 4300 Jul 16 Purchased inventory of $4,200 on account from Sugarman Diamonds, a jewelry importer Terms were 1/10, NEOM, FOB destination Date Debit Credit Jul 16 Accounts Merchandise Inventory Accounts Payable 4200 4200 Credit Uut 18 Received a $900 allowance from Sugarman for damaged but usable goods Date Accounts Debit Jul 18 Accounts Payable 900 Merchandise Inventory 900 Jul. 18. Received a $900 allowance from Sugarman for damaged but usable goods, Date Accounts Debit Jul 18 Accounts Payable 900 Merchandise Inventory Credit 900 Debit Credit Jul 24 Paid Sugarman Diamonds, less allowance and discount Date Accounts Jul 24 Accounts Payable Merchandise Inventory Cash 3500