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part a of the question

Prepare separate entries for each transaction for Highend Distributors Ltd. The inventory purchased by Grand Accessories on 10 June cost Highend Distributors $2,650, and the goods returned cost Highend Distributors $145. (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter o for the amounts. Round answers to O decimal places, eg. 4,126.) Highend Distributors Ltd General journal Debit Account and explanation Date Credit $ 10 June (To record sales) (To record sales) (To record cost of sales) MIN 11 June 12 June (To record sales returns) (To record cost of sales returns) (To record sales returns) LINE II (To record cost of sales returns) 17 June ne Accounts payable Accounts receivable Cash Cost of sales Discount allowed Discount received Equipment Freight in GST collected GST paid Inventory No entry Sales Sales returns and allowances rL On 10 June Grand Accessories Ltd purchased $5,300 of inventories from Highend Distributors Ltd, terms 2/7,0/30. Grand Accessories Ltd pays the freight costs of $280 to Freight Masters on 11 June. Goods totalling $290 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. (a) Your Answer Correct Answer Your answer is correct Prepare separate entries for each transaction in the records of Grand Accessories Ltd. (Enter debit entries first followed by credit entries. Credit account titles are automatically indented when the amount is entered. Do not Indent manually. If no entry is required, select "No entry for the account titles and enter for the amounts. Round answers to decimal places, eg, 4.126) Grand Accessories Ltd General journal Debit Credit Date Account and explanation 10 June Inventory 5300 Grand Accessories Ltd General journal Credit Date Account and explanation Debit $ $ 10 June Inventory 5300 Accounts payable 5300 11 June Freight in 280 Gash 280 12 June Accounts payable 290 Inventory 290 17 June Accounts payable 5010 Discount received 100.2 Cash 4909.8