Question: Learning Objective 2 July 24 Merch. Inv. $64 CR E-F:5-22 Journalizing purchase transactions Howie Jewelers had the following purchase transactions. Journalize all necessary trans- actions.

Learning Objective 2 July 24 Merch. Inv. $64 CR E-F:5-22 Journalizing purchase transactions Howie Jewelers had the following purchase transactions. Journalize all necessary trans- actions. Explanations are not required. Jun. 20 20 Jul. 4 14 16 18 24 Purchased inventory of $5,100 on account from Sanders Diamonds, a jewelry importer. Terms were 2/15, n/45, FOB shipping point. Paid freight charges, $400. Returned $600 of inventory to Sanders. Paid Sanders Diamonds, less return. Purchased inventory of $3,500 on account from Southboro Diamonds, a jewelry importer. Terms were 2/10, n/EOM, FOB destination. Received a $300 allowance from Southboro Diamonds for damaged but usable goods. Paid Southboro Diamonds, less allowance and discount

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