The following are selected transactions of Thomas, Inc 5/10 Sold & shipped on account to...
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The following are selected transactions of Thomas, Inc 5/10 Sold & shipped on account to Ryder, Inc. merchandise for $29,750, terms 3/10, n/30 5/16 Ryder, Inc. returned merchandise billed at S6,750 on May 10 5/19 Received a check from Ryder, Inc. for full settlement of the May 10 transaction. .: Record the above transactions in general journal form as they would appear on the books of (a) Thomas, Inc. and (b) Ryder, Inc. Ryder, Inc. records purchases at invoice price. Both companies use the periodic inventory system. Omit explanations for the journal entries
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