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Question 1 The following transactions occurred in D&S, the pharmacy chain during June of the current year: June 6 June 8 June 10 D&S purchased
Question 1 The following transactions occurred in D&S, the pharmacy chain during June of the current year: June 6 June 8 June 10 D&S purchased $12,000 of merchandise from Belvidere on credit terms of 3/10, n/30, FOB shipping point. D&S paid a $200 bill for freight in. D&S returned $3,000 of the merchandise purchased on July 6. D&S sold $6,000 of merchandise to M&B on credit terms of 2/15, n30, FOB shipping point. These goods cost D&S $3,600. D&S offered M&B a $300 allowance for damaged merchandise. M&B returned $1,000 of merchandise. These goods cost D&S $600. D&S paid the invoice amount owed to Belvidere for the July 6 purchase. D&S received cash from M&B for the June 10 sale. June 12 June 13 June 15 June 24 Required: Journalize the transactions on the books of D&S
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