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 nearest whole dollar.) Jun. 20: Purchased inventory of $5,500 on account from Southboro Diamonds, a jewelry importer. Terms were 2/15, n/45, FOB shipping point. Date Jun. 20 Accounts Merchandise Inventory Accounts Payable Jun. 20: Paid freight charges, $600. Debit Credit 5,500 5,500 Date Accounts Debit Credit Jun. 20 Merchandise Inventory Cash 600 Jul. 4: Returned $500 of inventory to Southboro. 600 Jun. Accounts Debit Credit 500 Date Jul 4 Accounts Payable Merchandise Inventory Jul. 14: Paid Southboro Diamonds, less return. 500 Date Accounts Debit Credit Jul 14 Accounts Payable Cash 5,000 5,000 Jul, 16: Purchased inventory of $3,600 on account from Suarez Diamonds, a jewelry importer. Terms were 2/10, n/EOM, FOB destination. Date Jul. 16 Accounts Merchandise Inventory Accounts Payable Debit Credit 3,600 3,600 Jul More Info - 20 Purchased inventory of $5,500 on account from Southboro Diamonds. a jewelry importer. Terms were 2/15, n/45. FOB shipping point. 20Paid freight charges, $600. 4 Returned $500 of inventory to Southboro. 14Paid Southboro Diamonds, less return. 16Purchased inventory of $3,600 on account from Suarez Diamonds, a jewelry importer. Terms were 2/10, n/EOM, FOB destination. 18 Received a $800 allowance from Suarez for damaged but usable goods. 24Paid Suarez Diamonds, less allowance and discount. Print Done