K L M N 0 P Q R s Suppose Heat Miser Air Conditioner Company engaged in the following transac- tions during June of the current year: Jun 3 Purchased inventory on credit terms of 1/10 net eom (end of month), $1,600. 9 Returned 40% of the inventory purchased on June 3. It was defective. 12 Sold goods for cash, $920 (cost, $550). 15 Purchased goods for $5,000. Credit terms were 3/15, nct 30. 16 Paid a S260 freight bill on goods purchased. 18 Sold inventory for $2,000 on credit terms of 2/10, n/30 (cost, $1,180). 22 Received returned goods from the customer of the June 18 sale, $800 (cost, $480 24 Borrowed money from the bank to take advantage of the discount offered on the June 15 purchase. Signed a note payable to the bank for the net amount, $4,850. 24 Paid supplier for goods purchased on June 15. Received cash in full settlement of the account from the customer who purchased inventory on June 18. 29 Paid the amount owed on account from the purchase of June 3 28 Ronnirements K L M N 0 P Q R s Suppose Heat Miser Air Conditioner Company engaged in the following transac- tions during June of the current year: Jun 3 Purchased inventory on credit terms of 1/10 net eom (end of month), $1,600. 9 Returned 40% of the inventory purchased on June 3. It was defective. 12 Sold goods for cash, $920 (cost, $550). 15 Purchased goods for $5,000. Credit terms were 3/15, nct 30. 16 Paid a S260 freight bill on goods purchased. 18 Sold inventory for $2,000 on credit terms of 2/10, n/30 (cost, $1,180). 22 Received returned goods from the customer of the June 18 sale, $800 (cost, $480 24 Borrowed money from the bank to take advantage of the discount offered on the June 15 purchase. Signed a note payable to the bank for the net amount, $4,850. 24 Paid supplier for goods purchased on June 15. Received cash in full settlement of the account from the customer who purchased inventory on June 18. 29 Paid the amount owed on account from the purchase of June 3 28 Ronnirements