Journalize the following transactions that occurred in June 2016 for Dixie Company. Assume Dixie uses the periodic inventory system. No explanations are needed. Identify each accounts payable and accounts receivable with the vendor or customer name.
Jun. 3 Purchased merchandise inventory on account from Shue Wholesalers, $4,500. Terms 3/15, n/EOM, FOB shipping point.
4 Paid freight bill of $75 on June 3 purchase.
4 Purchased merchandise inventory for cash of $ 1,300.
6 Returned $500 of inventory from June 3 purchase.
8 Sold merchandise inventory to Herman Company, $3,800, on account. Terms 3/15, n/35.
9 Purchased merchandise inventory on account from Tex Wholesalers, $4,700. Terms 2/10, n/30, FOB destination.
10 Made payment to Shue Wholesalers for goods purchased on June 3, less return and discount.
12 Received payment from Herman Company, less discount.
13 After negotiations, received a $500 allowance from Tex Wholesalers.
15 Sold merchandise inventory to Jeter Company, $ 1,800, on account. Terms 3/10, n/EOM.
22 Made payment, less allowance, to Tex Wholesalers for goods purchased on June 9.
23 Jeter Company returned $100 of the merchandise sold on June 15.
25 Sold merchandise inventory to Small for $600 on account. Terms of 2/10, n/30 was offered, FOB shipping point.
26 After negotiations, granted a $200 allowance to Small for merchandise sold on June 25.
29 Received payment from Small, less allowance and discount.
30 Received payment from Jeter Company, less return.