Question
Journalize all necessary transactions in the order they are presented in the transaction list. (Record debitsfirst, then credits. Exclude explanations from journal entries. Round all
Journalize all necessary transactions in the order they are presented in the transaction list. (Record debitsfirst, then credits. Exclude explanations from journal entries. Round all numbers to the nearest wholedollar.)
Jun.
Jun. 20: Purchased inventory of $ 5 comma 800
$5,800 on account from Slater Diamonds, a jewelry importer. Terms were 11/15, n/45, FOB shipping point.
Jun.20
Purchased inventory of $ 5 comma 800
$5,800 on account from Slater
Slater Diamonds, a jewelry importer. Terms were 1
1/15, n/45, FOB shipping point.
Paid freightcharges, $ 100
$100.
Jul.
Jul.4
Returned $ 500
$500 of inventory to Slater
Slater.14
Paid Slater
Slater Diamonds, less return.16
Purchased inventory of $ 4 comma 300
$4,300 on account from Sanders
Sanders Diamonds, a jewelry importer. Terms were 3
3/10, n/EOM, FOB destination.18
Received a $ 800
$800 allowance from Sanders
Sanders for damaged but usable goods. 24
Paid Sanders Diamonds, less allowance and discount.
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