Question: Journalize the following transactions for Antique Furniture Inc that occurred

Journalize the following transactions for Antique Furniture, Inc. that occurred during the month of January. Omit explanations using (1) the perpetual inventory system and (2) the periodic inventory system.
Jan 3 Purchased $5,700 of merchandise on account, terms 1/10, n/30, FOB shipping point. The supplier prepaid freight charges of $225 and added the amount to the invoice.
6 Returned damaged goods to the supplier and received a credit memorandum in the amount of $500.
12 Paid for the goods purchased on January 3.



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  • CreatedJuly 08, 2015
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