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Jones Inc. purchases $640,000 in inventory on June 1st from Hose Inc. with terms 2/10, net 30 . Jones returns $20,000 worth of merchandise due

Jones Inc. purchases $640,000 in inventory on June 1st from Hose Inc. with terms 2/10, net 30 . Jones returns $20,000 worth of merchandise due to damage on June 3rd. Jor pays $303,800 on June 10th and the remaining balance on June 30th. a Assume that Jones uses the perpetual inventory method and records transactions under the gross method. Please record the journal entries for June. b Using the information above, prepare the journal entries assuming that Jones using the periodic inventory method and net method

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