More Info Jun. Jul. 20 Purchased inventory of $5,900 on account from Surry Diamonds, a...
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More Info Jun. Jul. 20 Purchased inventory of $5,900 on account from Surry Diamonds, a jewelry importer. Terms were 2/15, n/45, FOB shipping point. 20 Paid freight charges. $200. 4 Returned $800 of inventory to Surry. 14 Paid Surry Diamonds, less return. 16 Purchased inventory of $4,400 on account from Swift Diamonds, a jewelry importer. Terms were 1/10, n/EOM, FOB destination. 18 Received a $700 allowance from Swift for damaged but usable goods. 24 Paid Swift Diamonds, less allowance and discount. Print Done Haynes Jewelers uses a perpetual inventory system and had the following purchase transactions. Joumalize all necessary transactions. Explanations Click the icon to view the transactions) Joumalize all necessary transactions in the order they are presented in the transaction list (Record debits first, then credits. Exclude explanations from Jun. 20: Purchased inventory of $5,900 on account from Surry Diamonds, a jewelry importer. Terms were 2/16, 1/45, FOB shipping point. Date Accounts Debit Credit Jun 20
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