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This is the problem E4.6 Journalise purchase transactions. LO2 On 10 June Grand Accessories Ltd purchased $5400 of inventories from Highend Distributors Ltd, terms 2/7,

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E4.6 Journalise purchase transactions. LO2 On 10 June Grand Accessories Ltd purchased $5400 of inventories from Highend Distributors Ltd, terms 2/7, n/30. Grand Accessories Ltd pays the freight costs of $270 to Freight Masters on 11 June. Goods totalling $270 are returned to Highend Distributors Ltd for credit on 12 June. On 17 June Grand Accessories Ltd pays Highend Distributors Ltd the amount owing. Both entities use a perpetual inventory system. Required a. Prepare separate entries for each transaction in the records of Grand Accessories Ltd

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