P4-5 Sales and purchase-related transactions for seller and buyer The following selected transactions were completed during June between Snipes Company and Beejoy Company:

June 8. Snipes Company sold merchandise on account to Beejoy Company, $18,250, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold Was $10,000.

8. Snipes Company paid transportation costs of $400 for delivery of merchandise sold to Beejoy Company on. June 8.

12. Beejoy Company returned $5,000 of merchandise purchased on account on June 8 from Snipes Company. The cost of the merchandise returned was $3,000. 23. Beejoy Company paid Snipes Company for purchase of June 8, less discount and less return of June 12.

24. Snipes Company sold merchandise on account to Beejoy Company, $15,000, terms FOB shipping point, n/eom. The cost of the merchandise sold was $9,000. 26. Beejoy Company paid transportation charges of $375 on June 24 purchase from Snipes Company.

30. Beejoy Company paid Snipes Company on account for purchase of June 24.

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