The following transactions occurred in D&S, the pharmacy chain during June of the current year:

June 6	D&S purchased $12,000 of merchandise from Belvidere on credit terms of 3/10, n/30, FOB shipping point. D&S paid a $200 bill for freight in.
June 8	D&S returned $3,000 of the merchandise purchased on July 6.
June 10	D&S sold $6,000 of merchandise to M&B on credit terms of 2/15, n30, FOB shipping point. These goods cost D&S $3,600.
June 12	D&S offered M&B a $300 allowance for damaged merchandise.
June 13	M&B returned $1,000 of merchandise. These goods cost D&S $600.
June 15	D&S paid the invoice amount owed to Belvidere for the July 6 purchase.
June 24	D&S received cash from M&B for the June 10 sale.

Journalize the transactions on the books of D&S.

Answer rating: 100% (QA)

A B D E 1 2 Solution Date Account title Credit Debit 12200 3 06Jun Merchandise inventory 4 Accounts ... View the full answer