Give me an example of June $23$ Purchased $100$ widgets on account from Martin Co$.,$ terms $1/10,$ n$/30,$ FOB shipping

point, $$55,540,$ including freight of $$1,540.$

June $26$ Sold $14$ widgets with a list price of $$12,800$ to a customer who used their gold VISA and redeemed

$$200$ of point$-$of$-$sale coupons.

We use the FIFO inventory method $($see the FIFO Inventory schedule tab for inventory information$)$

June $29$ Paid for the merchandise purchased on June $23$ from Martin Co$.$

June $30$ Paid a cash refund of $$2,700$ for returned $3$ widgets from the VISA sale of June $26.$

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 week of June, the first month of the fiscal year.

Purchase Widget Inventory

Date Quantity Unit Cost Total Cost

May $610510$ $$5,100\mathrm{.}00$

May $1675525$ $$39,375\mathrm{.}00$

$$44,475\mathrm{.}00$