Question: The following purchase related transactions for Bailey Inc occurred during

The following purchase related transactions for Bailey, Inc., occurred during the month of June.
Jun 3 Purchased $6,900 of merchandise, paid cash.
9 Purchased $550 of supplies on account from Slater Unlimited. Terms, n/30, FOB destination.
16 Purchased $7,100 of merchandise on account from Tire, Inc. Terms, 2/15, n/30, FOB shipping point.
22 Received a credit memo in the amount of $1,400 from Tire, Inc., for damaged goods from the June 16 purchase that were returned.
28 Paid for the supplies purchased on June 9.
28 Paid Tire, Inc., in full for the June 16 purchase.

1. Journalize the transactions for Bailey, Inc. Omit explanations.

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  • CreatedApril 29, 2014
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