Journalize, without explanations, the following transactions of Current Fashion Distributors, a wholesaler that uses the perpetual inventory system, during the month of June 2014:
Jun. 3 Purchased $14,500 of inventory from a manufacturer under terms of 1/10, n/eom and FOB shipping point.
7 Returned $2,700 of defective merchandise purchased on June 3.
9 Paid freight bill of $750 on June 3 purchase.
10 Sold inventory for $11,500 to a retail store, collecting cash of $2,400. Payment terms on the remainder were 1/15, n/30. The goods cost Current Fashion Distributors $6,900.
12 Paid amount owed on credit purchase of June 3.
16 Granted a sales allowance of $1,200 on the portion of the June 10 sale that was on account.
23 Received cash from June 10 customer in full settlement of the debt.