Presented below are transactions related to Tom Brokaw, Inc. and Dan Rather Corp. Dan Rather offers cash discount terms of 2/10, n/30 to its customers.

May 10	Tom Brokaw purchased goods from Dan Rather for $15,000. The cost of the goods to Dan Rather is $3,000.
11	Tom Brokaw returned $1,500 of goods to Dan Rather (cost = $300).
19	Tom Brokaw paid the May 10 purchase, net of returns.
20	Tom Brokaw purchased goods from Dan Rather for $13,200. The cost of the goods to Dan Rather is $2,000.

As of May 31, Tom Brokaw has not paid Dan Rather for the May 20 purchase.

Journalize the month's transactions assuming the use of a periodic inventory system under the gross method. Skip the end of the month journal entry to record COGS and update Inventory. Date Account Debit Credit TOM BROKAW 8 of 10 Chapter 08 Homework Inventory 05/31/YYYY --- periodic month-end closing JE skipped --- Date Account Debit Credit DAN RATHER