Omega Boutique is a retailer of luxury Swiss watches. The company reported the following retail transactions...

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Omega Boutique is a retailer of luxury Swiss watches. The company reported the following retail transactions during June. Any policies on credit terms, discounts and allowances are precisely followed on both purchases and sales. Omega uses the periodic inventory system. Prepare journal entries to record each transaction. Total Points 80 3-Jun 5-Jun 19-Jun 23-Jun Purchased $4,000 of watches on account from TAG Heuer, F.O.B. destination, terms 1/10, n/30. Account 27-Jun 11-Jun Purchased $8,000 of watches on account from Blancpain, F.O.B. shipping point, terms 2/10, n/30. Freight charges of $460 were paid in cash. Account Debit Credit Debit Sold a $1,500 watch to a customer on account, terms 2/10, n/30. The customer picked up the clock from the shop. (You can ignore matching entry for expense) Account Debit Credit Credit Sold a $3,500 watch on account, terms 2/10, n/30. Omega sold the clock F.O.B. destination. $330 of freight charges were paid. (You can ignore matching entry for expense) Account Debit Credit The customer of June 19 paid the balance due. The customer of June 19 called to report that the clock was received damaged. An agreement was reached to reduce the invoice by 20%. Account Debit Credit Account Debit Credit Omega Boutique is a retailer of luxury Swiss watches. The company reported the following retail transactions during June. Any policies on credit terms, discounts and allowances are precisely followed on both purchases and sales. Omega uses the periodic inventory system. Prepare journal entries to record each transaction. Total Points 80 3-Jun 5-Jun 19-Jun 23-Jun Purchased $4,000 of watches on account from TAG Heuer, F.O.B. destination, terms 1/10, n/30. Account 27-Jun 11-Jun Purchased $8,000 of watches on account from Blancpain, F.O.B. shipping point, terms 2/10, n/30. Freight charges of $460 were paid in cash. Account Debit Credit Debit Sold a $1,500 watch to a customer on account, terms 2/10, n/30. The customer picked up the clock from the shop. (You can ignore matching entry for expense) Account Debit Credit Credit Sold a $3,500 watch on account, terms 2/10, n/30. Omega sold the clock F.O.B. destination. $330 of freight charges were paid. (You can ignore matching entry for expense) Account Debit Credit The customer of June 19 paid the balance due. The customer of June 19 called to report that the clock was received damaged. An agreement was reached to reduce the invoice by 20%. Account Debit Credit Account Debit Credit