Problem II $(10$pts $+5$ Extra pts$)$

June $4$ AA Company purchased $$9,000$ of merchandise; terms $\frac{2}{10}\frac{n}{30}$ from BB Company. The cost of the merchandise was $$6,300.$

$12$ AA returned $$500$ of goods to BB for full credit. The goods had a cost of $$350$ to $BB.$

$12$ AA Company paid the account in full $(5$ Extra pts$).$

Instructions

Prepare the journal entries to record these transactions in BB Company records. Assume the use of the perpetual inventory system for both companies.