Principles of Accounting I (ACC 200)a: Assignment Q1. The following merchandising transactions happen during June for Naveen Company. (All companies involved use a perpetual inventory system. 1- On June 10, Naveen Company purchased $8,000 of merchandise from Jarrah Company, FOB shipping point, terms 2/10, n/30 (the cost of these goods is $4,800). 2- On June 11, Naveen pays the freight costs of $400. 3- On June 12, Damaged goods totaling $300 are returned to Jarrah for credit. The fair value of these goods is $70. 4- On June 15, Naveen Company purchased 10,000 on cash from Jarrah Company. (the cost of these goods is $3,500). 5-On June 17, Naveen returned back goods valued 500 as they were not meeting the acceptable standard (cost was 150). 6- On June 19, Naveen pays Jarrah Company the amount in due. Requirements: (a) Prepare separate entries for each transaction on the books of Naveen Company and Jarrah Company. (10 marks) (10 marks Total) Principles of Accounting I (ACC 200)a: Assignment Naveen Company Date Accounts Title Debit Credit Principles of Accounting I (ACC 200)a: Assignment Jarrah Company Date Accounts Title Debit Credit