June Snipes Company sold merchandise on account to Beioy Company, $18,250, terms FOB destination, 2/15, nous. The cost of the merchandise sold wa 8 $10,000 8. Snipes Company paid transportation costs of S400 for delivery of merchandise sold to Becio. Company on June 8 12. Besioy Company retamed merchandise with a selling price of $5,000 (54,900 het of discount) purchased on June 8 from Snipes Company. The cost of the merchandise returned was $3,000 23. Becioy Company paid Snipes Company for purchase of June 8, less tcfund on return of June 12. 24 Snipes Company sold merchandise on account to Becoy Company, S15,000, terms FOB shipping point, nicom. The cost of the merchandise sold was $9,000 26. Becios Company paid transportation charges of $375 on June 24 purchase from Snipes Company. 30 Bioy Company paid Snipes Company on account for purchase of June 24. Instructions Illustrate the effects of each of the preceding transactions on the accounts and financial stateracts of (1) Snipes Company and (2) Becky Company. Identify cach transaction by date Sulpes Company Seller) Balance Sheet Assets Account Merchandise Est. Return Description of Retained Customer Refunds Payable Capital Stock Retained Fami Dute Receivable Inventory Inventory Faming Traction 12-Jun