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The following are selected transactions of Kimberly, Inc.: May 10 Sold and shipped on account to Buddie, Inc. merchandise for $2,300, terms 2/10, n/30. 16

The following are selected transactions of Kimberly, Inc.:

May 10 Sold and shipped on account to Buddie, Inc. merchandise for $2,300, terms 2/10, n/30.

16 Buddie, Inc. returned merchandise billed at $600 on May 10.

19 Received a check from Buddie, Inc. for full settlement of the May 10 transaction.

Record the above transactions in general journal form as they would appear on the books of (a) Kimberly, Inc. and (b) Buddie, Inc. Buddie, Inc. records purchases at invoice price. Both companies use the periodic inventory system. Omit explanations for the journal entries.

ON THE BOOKS OF KIMBERLY , INC. :

ON THE BOOKS OF BUDDIE, INC:

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