Journalize, without explanations, the following transactions of Life Mart, a wholesaler that uses the perpetual inventory...
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Journalize, without explanations, the following transactions of Life Mart, a wholesaler that uses the perpetual inventory system, during the month of June 2023: June 3 Purchased $24,000 of inventory from a manufacturer under terms of 2/10, n/eom and FOB shipping point. June 7 June 9 June 10 Returned $4,500 of defective merchandise purchased on June 3. Paid freight bill of $870 on June 3 purchase. June 12 June 16 June 23 Sold inventory for $21,000 to a retail store, collecting cash of $3,800. Payment terms on the remainder were 3/15, n/30. The goods cost Life Mart $12,600. Paid amount owed on credit purchase of June 3. Granted a sales allowance of $1,800 on the portion of the June 10 sale that was on account. Received cash from June 10 customer in full settlement of the debt. June 3. Purchased $24,000 of inventory from a manufacturer under terms of 2/10, n/eom and FOB shipping point. (Record debits first, then credits. Exclude explanations from journal entries. Round amounts to the nearest whole dollar.) Date June 3 Accounts Debit Credit Journalize, without explanations, the following transactions of Life Mart, a wholesaler that uses the perpetual inventory system, during the month of June 2023: June 3 Purchased $24,000 of inventory from a manufacturer under terms of 2/10, n/eom and FOB shipping point. June 7 June 9 June 10 Returned $4,500 of defective merchandise purchased on June 3. Paid freight bill of $870 on June 3 purchase. June 12 June 16 June 23 Sold inventory for $21,000 to a retail store, collecting cash of $3,800. Payment terms on the remainder were 3/15, n/30. The goods cost Life Mart $12,600. Paid amount owed on credit purchase of June 3. Granted a sales allowance of $1,800 on the portion of the June 10 sale that was on account. Received cash from June 10 customer in full settlement of the debt. June 3. Purchased $24,000 of inventory from a manufacturer under terms of 2/10, n/eom and FOB shipping point. (Record debits first, then credits. Exclude explanations from journal entries. Round amounts to the nearest whole dollar.) Date June 3 Accounts Debit Credit
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