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Journalize all necessary transactions in order they are presented in the transaction list Jun. 20 Purchased inventory of $5,800 on account from Sampson Diamonds, a
Journalize all necessary transactions in order they are presented in the transaction list
Jun. 20 Purchased inventory of $5,800 on account from Sampson Diamonds, a jewelry importer. Terms were 2/15,n/45,FOB shipping point. Jun. 20 Paid freight charges, $100. Jul. 4 Returned $600 of inventory to Sampson. Jul. 14 Paid Sampson Diamonds, less return. Jul. 16 Purchased inventory of $3,800 on account from Sanders Diamonds, a jewelry importer. Terms were 3/10, n/EOM, FOB destination. Jul. 18 Recelved a $400 allowance from Sanders Diamonds for damaged but usable goods. Jul. 24 Paid Sanders Diamonds, less allowance and discount. stion 5 Haynes Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary transactions. Explanations are not required. Click the icon to view the transactions.) Journalize all necessary transactions in the order they are presented in the transaction list. (Record debits first, then credits. Exclude explanations from journal entries. Round all numbers to the noarest whole dollar.) Jun. 20: Purchased inventory of $5,800 on account from Sampson Diamonds, a jewelry importer. Terms were 2/15, n/45 FOB shipping point Step by Step Solution
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