E5-20 Journalizing purchase transactions Howie Jewelers had the following purchase transactions. Journalize all necessary trans- actions. Explanations are not required. Jun. 20 20 Jul. 4 14 16 Purchased inventory of $5,100 on account from Sanders Diamonds, a jewelry importer. Terms were 2/15, n/45, FOB shipping point. 18 Paid freight charges, $400. Returned $600 of inventory to Sanders. Paid Sanders Diamonds, less return. Purchased inventory of $3,500 on account from Southboro Diamonds, a jewelry importer. Terms were 2/10, n/EOM, FOB destination. Received a $300 allowance from Southboro Diamonds for damaged but usable goods. 24 Paid Southboro Diamonds, less allowance and discount.

5-20 Journalizing purchase transactions Howie Jewelers had the following purchase transactions. Journalize all necessary trans actions. Explanations are not required