Question $7$

Boucher Corporation uses the perpetual inventory system. Its transactions during June $2019$ are as follows:

June $1-$ Boucher purchased $$12,000$ of merchandise inventory from a supplier for terms $2\mathrm{.}5/15,$ n $60.$

June $3-$ Boucher sold all the inventory purchased on June $1$ for $$18,000$ on for terms $1\mathrm{.}5/13,$ net $30.$

June $8-$ Wright contacted Boucher that some of the merchandise inventory are defective. Boucher offers sales allowance of $$2,000$ if the customer keeps the inventory. The customer agreed.

June $13-$ Boucher received payment from Wright Inc. for the balance owed.

June$-14-$ Boucher settled the supplier for the balance owed.

Required: Prepare journal entries to record the above transactions. Include general ledger account numbers and brief descriptions.