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CYU5-1 (similar to Question Help Suppose Winter Wind Air Conditioner Company engaged in the following transactions during June of the current year (Click the icon
CYU5-1 (similar to Question Help Suppose Winter Wind Air Conditioner Company engaged in the following transactions during June of the current year (Click the icon to view the transactions.) Requirement Jounalize the transactions. Assume Winter Wind uses a perpetual inventory system. The company estimates sales returns t the end of each month Jun 3 Purchased inventory on account with credit terms of 3/10, n/EOM, $2,200. More Info Date Accounts and Explanation Debit Credit Jun. 3 Purchased inventory on account with credit terms of 3/10, n/EOM. $2.200 Jun Returned 30% of the inventory purchased on June 3, It was defective. 12 Sold goods for cash, $960 (cost, $576). 15 Purchased goods for $10,000 on account Credit terms were 1/15, n/30. 16 Paid a $300 freight bill on goods purchased 17 Sold inventory for $3,500 cash (cost, $3,210) 18 Sold inventory for $2.500 on account with credit terms of 2/10, n/30 (cost, $1,500). 2 returned goods from the co E June 17 sale, $900 (cost, $540). Received cash in full settlement of the account from the customer who purchased inventory on June 18 28 29 Paid the amount owed on account from the purchase of June 3 30 The company estimated that $220 of merchandise sold Ibe returned with a cost of $150. Prin Done
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