Journalize all necessary transactions in the order

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Hartford Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary transactions. Explanations are not required. Jun. 20 Purchased inventory of $5,400 on account from Southboro Diamonds, a jewelry importer. Terms were 3/15, n/45, FOB shipping point. Jun. 20 Paid freight charges, $100. Jul. 4 Returned $300 of inventory to Southboro. Jul. 14 Paid Southboro Diamonds, less return. Jul. 16 Purchased inventory of $3,900 on account from Shanley Diamonds, a jewelry importer. Terms were 1/10, n/EOM, FOB destination. Jul. 18 Received a $600 allowance from Shanley Diamonds for damaged but usable goods. Get the instant assignment help. Jul. 24 Paid Shanley Diamonds, less allowance and discount. Journalize all necessary transactions in the order they are presented in the transaction list.

Reference no: EM133973198

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