Sales and Purchase-Related Transactions for Seller and Buyer The following selected transactions were completed during June between Snipes Company and Beejoy Company: Instructions: 1. Illustrate the effects on the accounts and financial statements of recording the following transactions for Snipes Company. Identify each transaction by date If no account or activity is affected, select "No effect" from the dropdown and leave the corresponding number entry box blank. June 8. Snipes Company sold merchandise on account to Beejoy Company, $18,250, terms FOB destination, 2/15, n/eom. The cost of the merchandise sold was $10,000 June 8. Snipes Company paid transportation costs of $400 for delivery of merchandise sold to Beejoy Company on June 8 Balance Sheet Statement of Cash Flows Stockholders Equity Income Statement Assets = Liabilities + Casv + Accounts Recewalgie Inventory = No Effect + Retained Earings June 8 June 8 Statement of Cash Income Statement Flows Operating Saleg Cost of goods/sold Delivery expens Net income June 12. Beejoy Company returned merchandise with a selling price of $5,000 ($4,900 net of discount) purchased on June 8 from Snipes Company. The cost of the merc Balance Sheet Statement of Cash Flows Stockholders' Equity Income Statement Assets Liabilities Accounts Recewable Inventory +Est. Return Inventery Cust. Refunds Payaple Retained Eartings June 12. -3,000 June 12 Statement of Cash Flows Income Statement No effect No effect