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Points: 1.02 of 10 Journalize, without explanations, the following transactions of River Valley Auto Parts, a distributo periodic inventory system, during the month of June

image text in transcribed Points: 1.02 of 10 Journalize, without explanations, the following transactions of River Valley Auto Parts, a distributo periodic inventory system, during the month of June 2023: June 3 Purchased $20,000 of inventory under terms of 3/10, n/eom, and FOB shipping point. June 7 Returned $2,800 of defective merchandise purchased on June 3. June 9 June 10 June 12 Paid freight bill of $530 on June 3 purchase. Sold inventory for $28,000 collecting cash of $5,000. Payment terms on the remainder w Paid amount owed on credit purchase of June 3. June 16 Granted a sales allowance of $1,400 on the June 10 sale. June 23 Received cash from the June 10 customer in full settlement of the debt

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