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June Snipes Company sold merchandise on account to Bssioy Company, 518,250, terms FOB destination, 2/15, n'co The cost of the merchandise sold was 8. $10,000.

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June Snipes Company sold merchandise on account to Bssioy Company, 518,250, terms FOB destination, 2/15, n'co The cost of the merchandise sold was 8. $10,000. 8. Snipes Company paid transportation costs of $400 for delivery of merchandise sold to Becoy Company on June 8. 12. Becios Company returned merchandise with a selling price of $5,000 (54,900 net of discount) purchased on June 8 from Snipes Company. The cost of the merchandise retumed was $3,000. 23. Becoy Company paid Snipes Company for purchase of June 8, less refund on return of June 12. 24. Stipes Company sold merchandise on account to Becios Company, S15,000, terms FOB shipping point, n'com The cost of the merchandise sold was 89,000. 26 Besioy Company paid transportation charges of S375 on June 24 purchase from Snipes Company 30. Besioy Company paid Snipes Company on account for purchase of June 24, Instructions llustrate the effects of each of the preceding transactions on the accounts and financial statements of (1) Snipes Company and (2) Bethox Company, Identify cach transaction by date Snipes Company (Seller) Balance Sheet Assets - Liabilities + Shareholder's Equity Account Merchandise Est. Return Customer Refunds Capital Retained Description of Retained Date Cash Receivable Inventory Inventory Payable Stock Earnings Earnings Transaction X.Jun 12.Jun 23-Jun 24-Jan 30.Jun

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