For each of the following transactions of Buckeye Corporation, prepare the appropriate journal entry. (All purchases on credit are made with terms of 2/10, n/30, and Buckeye uses the periodic system of inventory.)

July Transactions:

July 3 Purchased merchandise on credit from Wildcat Corp. for $6,300.

12 Paid amount owed to Wildcat Corp.

CHART OF ACCOUNTSBuckeye CorporationGeneral Ledger

ASSETS Revenue

111 Cash 411 Sales Revenue

121 Accounts Receivable

125 Interest Receivable EQUITY

141 Inventory 311 Capital Stock

152 Prepaid Insurance 331 Retained Earnings

154 Supplies

174 Equipment

179 Accumulated Depreciation

EXPENSES

500 Cost of Goods Sold

510 Purchases

515 Transportation-In

521 Salaries Expense

532 Utilities Expense

533 Insurance Expense

534 Rent Expense

537 Supplies Expense

541 Depreciation Expense

551 Advertising Expense

559 Miscellaneous Expenses

810 Interest Expense

910 Income Tax Expense

LIABILITIES

211 Accounts Payable

231 Salaries and Wages Payable

235 Notes Payable

261 Income Taxes Payable

Complete the following: