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How to solve this question? You: On 10 June Grand accessories Ltd purchased $5000 of inventories from Highend Distributors ltd, terms 2/7, n/ 30. Grand

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You: On 10 June Grand accessories Ltd purchased $5000 of inventories from Highend Distributors ltd, terms 2/7, n/ 30. Grand Accessories Ltd pays the freight cost of $260 to Freight Masters on 11 June. Good totalling $270 are returned to Highend Distributors Ltd for credit on 12 June. On 17 June Grand Accessories Ltd pays Highend Distributors Ltd the amount owing. Both entities use a perpetual inventory system. You: Please prepare separate entries for each transaction in the records of Grand Accesories Ltd

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