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prepare journal entry During the month of June, Ace incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3. Purchased

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During the month of June, Ace incorporated purchased goods from two suppliers. The sequence of events was as follows: June 3. Purchased goods for $4,700 froen Dianond Incorporated with teran 2/10,n/30. June 5 Returned goods costing $1,400 to Dianond Incorporated for credit on account. Juse 5 Parchased goods from Club Corporation for $1,300 with termi 2/10,n/30. June 11 Paid the balance owed to Dianond Incorporated. June 22 Paid Club Corporation in ful1. Required: Prepare journal entries to record the transactions, assuming Ace records discounts using the gross method in a perpetual inventor system. (If no entry is requires for a transaction/event, select "No Journal Entry Required" in the first account field.)

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