Consider the following transactions for Tacoma Drug Store: 

Requirements 

1. Journalize the purchase transactions. Explanations are not required. 

2. In the final analysis, how much did the inventory cost Tacoma Drug Store?

Transcribed Image Text:

Feb. 2 4 9 14 Tacoma Drug Store purchased $20,250 worth of inventory on account with credit terms of 3/15, n/30, FOB shipping point from Red Medical Supplies. Tacoma Drug Store paid a $90 freight charge. Tacoma Drug Store returned $5,000 of the merchandise due to damage during shipment. Tacoma Drug Store paid the amount due, less return and discount.