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Question 10 12 pts Majestic Corp. uses a perpetual inventory system. The following activities occurred during June: . . 6/2 - Majestic purchased $15,000 of inventory on credit to sell to customers 6/4 - $5,000 of the inventory was damaged and returned to the vendor 6/10 - Majestic paid cash for the inventory purchased 6/12 - Sold the entire remaining inventory to Regal Company on credit for $18,000 6/23 - Majestic collected the cash from Regal Company for the inventory sold on 6/12 Prepare the journal entries to record these transactions on the books of Majestic Corp. HTML Editor B I VA - A - IX E 33 1 3xx, E VGK 12pt Paragraf Question 10 12 pts Majestic Corp. uses a perpetual inventory system. The following activities occurred during June: . . 6/2 - Majestic purchased $15,000 of inventory on credit to sell to customers 6/4 - $5,000 of the inventory was damaged and returned to the vendor 6/10 - Majestic paid cash for the inventory purchased 6/12 - Sold the entire remaining inventory to Regal Company on credit for $18,000 6/23 - Majestic collected the cash from Regal Company for the inventory sold on 6/12 Prepare the journal entries to record these transactions on the books of Majestic Corp. HTML Editor B I VA - A - IX E 33 1 3xx, E VGK 12pt Paragraf

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