Question 6 On June 10, Bonita Company Ltd. purchased 9,250 of merchandise from Bianchi Company, FOB shipping point, terms 2/10, n/30. Bonita pays the freight costs of 410 on June 11. Damaged goods totaling 500 are returned to Bianchi for credit on June 12. The fair value of these goods is 95. On June 19, Bonita pays Bianchi Company in full, less the purchase discount. Both companies use a perpetual inventory system. (a) Prepare separate entries for each transaction on the books of Bonita Company, Ltd. (Record journal entries in the order in which they must have occurred. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit v (b) Prepare separate entries for each transaction for Bianchi Company. The merchandise purchased by Bonita on June 10 had cost Bianchi 4,970. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit (To record the sale.) (To record cost of merchandise sold.) (To record merchandise returned.) (To record cost of merchandise returned.) June 19