The Martin Merchandise entity had the following transactions during the month of June: June 2 Purchased $1,500
Question:
The Martin Merchandise entity had the following transactions during the month of June:
June 2 Purchased $1,500 of merchandise from the Patae entity, invoice #6205, terms 2/10, n/30.
5 Returned $150 of merchandise to the Patae entity from the June 2 purchase.
10 Received shipping bill from Quick Shipping for the June 2 Patae entity purchase, $75. The bill is to be paid later in the month.
12 Paid the Patae entity for June 2 purchase.
20 Paid Quick Shipping for the June 10 transaction.
Record the transactions using a periodic inventory system.
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