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Im pretty sure the answers I have already put are correct so please just fill in the numerical blanks ty Sales and Purchase-Related Transactions for

Im pretty sure the answers I have already put are correct so please just fill in the numerical blanks ty

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Sales and Purchase-Related Transactions for Seller and Buyer If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. Enter account decreases, cash outflows, and the income statement effects that reduce gross profit as negative amounts. The following selected transactions were completed during June between Snipes Company and Beejoy Company: Requirements: 1. Illustrate the effects of each of the transactions on the accounts and financial statements of Snipes Company. June 8. Snipes Company sold merchandise on account to Beejoy Company, $18,250, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $10,000. Snipes Company paid transportation costs of $400 for delivery of the merchandise. Balance Sheet Liabilities Assets + Accounts Reteivable + Stockholders' Equity + Retained Earnings Cash + Inventory No Effect June 8. 0 Statement of Cash Flows Income Statement Operating Sales Cost of goods sold Delivery expense Gross profit June 12. Beejoy Company returned merchandise with a selling price of $5,000 ($4,900 net of discount) purchased on June 8 from Snipes Company. The cost of the merchandise returned was $3,000. Balance Sheet Assets Liabilities Stockholders' + Equity + No Effect Accounts Receivable + Inventory + Est. Return Inventory = Cust. Refunds Payable June 12. Statement of Cash Flows Income Statement No effect No effect June 23. Beejoy Company paid Snipes Company for purchase of June 8, less refund on return of June 12. Balance Sheet Assets Liabilities Stockholders' + Equity + No Effect Cash + Accounts Receivable = No Effect June 23. 0 o Statement of Cash Flows Income Statement Operating No effect June 24. Snipes Company sold merchandise on account to Beejoy Company, $15,000, terms FOB shipping point, n/eom. The cost of the merchandise sold was $9,000. Balance Sheet Assets Liabilities Stockholders' Equity Accounts Reteivable + Inventory No Effect + Retained Earnings + June 24. 0 Statement of Cash Flows Income Statement No effect 0 Sales Cost of goods sold Gross profit June 30. Beejoy Company paid Snipes Company on account for purchase of June 24. Balance Sheet Assets = Liabilities Stockholders' + Equity + No Effect Cash + Accounts Receivable = No Effect June 30. 0 0 Statement of Cash Flows Income Statement Operating No effect 0

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