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Journalize the following transactions for Marvin?s String shop July 2 Marvin purchased 6,000 spots of string, terms 2/10, net 30, for $9,000 July 3 Marvin
Journalize the following transactions for Marvin?s String shop July 2 Marvin purchased 6,000 spots of string, terms 2/10, net 30, for $9,000 July 3 Marvin returned 2.000 spools of string. July 8 Marvin paid the string invoice. July 14 Marvin sold 1,000 spools of strings, terms 1/15, net 35, for $2,000, cost = $1,500. July 16 Customer returned 200 spools of string from July 14 sale July 28 Customer paid invoice July 2 Shipping terms for this purchase, F.O.B. -shipping point. Total shipping cost $85. July 31 Physical inventory revealed that $150 of string inventory had been lost or stolen
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