ASSUMPTIONS:
	1	The chart of accounts provided includes all of the accounts needed to prepare your journal entries.
	2	All accounts have a normal balance in our general ledger.
	3	We utilize FIFO for inventory valuation
Transactions:
June 19		Sold 90 widgets on account to Korman Co., terms n/10, FOB destination, $78,500,
		We use the FIFO inventory method (see the FIFO Inventory schedule tab)
June 20		Purchased 272 widgets on account from Martin Co., terms 2/10, n/30, FOB shipping
		point, $163,000, including freight of $1,000.
June 23		Received $25,000 cash on account from Turner Co. who has a balance of $78,750. The
		customer is not going to be able to pay the rest so it is written off.
June 26		Sold 46 widgets with a list price of $41,500 to customers who used VISA and who redeemed
		$2,000 of point-of-sale coupons.
		Remember, we use the FIFO inventory method (see the FIFO Inventory schedule tab)
June 28		Korman Co. Paid their invoice from June 19.
June 29		Paid for the merchandise purchased on June 20 from Martin Co.
June 30		Paid Korman Co. a cash refund of $3,230 for returned 3 widgets from sale of June 20.
		The widgets returned were part of the last layer in the original sale cost wise.
June 30		Parker Co, a customer whose account was previously written off as uncollectible, has paid
		$10,000 towards his delinquent (past due and written off) balance.
Required:
1. Journalize the transactions for the last two weeks of June, the first month of the fiscal year on pages 173 and 174 of
the general journal.