The following transactions occurred between Wentworth Pharmaceuticals and Tweed Drug Stores during June of the current year:

Required

Journalize these transactions, first on the books of Tweed Drug Stores and second on the books of Wentworth Pharmaceuticals. Assume both companies use the periodic inventory system.

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Jun. 6 Tweed purchased $29,400 of merchandise from Wentworth on credit terms 2/10, n/30, FOB shipping point. Separately, Tweed paid freight-in of $300. Wentworth invoiced Tweed for $29,400. 10 15 27 Tweed returned $3,600 of the merchandise purchased on June 6. Wentworth issued a credit memo for this amount. Tweed paid $12,000 of the invoice amount owed to Wentworth for the June 6 purchase. This payment included none of the freight charge. Tweed paid the remaining amount owed to Wentworth for the June 6 purchase.