Question: Week 1 1 Assignment - Retail business transactions ( 2 ) The following selected transactions were completed during June between Snipes Company and Beejoy Company.
Week AssignmentRetail business transactions
The following selected transactions were completed during June between Snipes Company and Beejoy Company. Please record transactions for Beejoy company.
tabletableJunetableSnipes Company sold merchandise on account to Beejoy Company, $ terms FOB destination, The cost of the merchandise sold was$Snipes Company paid transportation costs of $ for delivery of merchandise sold to Beejoy Company on June tableBeejoy Company returned merchandise with a selling price of $ $ net of discount purchased on June from Snipes Company. The cost of themerchandise returned was $Beejoy Company paid Snipes Company for purchase of June less refund on return of June tableSnipes Company sold merchandise on account to Beejoy Company, $ terms FOB shipping point, The cost of the merchandise sold was$tableBeejoy Company paid transportation charges of $ on June purchase from Snipes Company.Beejoy Company paid Snipes Company on account for purchase of June InstructionsIllustrate the effects of each of the preceding transactions on the accounts and financial statements of Beejoy Company. Identify each transaction by date.
tableBeejoy Company BuyerBalance Sheet,Description of RetainedAssets,Liabilities,Shareholder's EquityAccounts,Merchandise,,Accounts,Customer Refunds,Capital,RetainedDateCash, Receivable Inventory,,Payable,Payable,,Stock,Earnings,Earnings TransactionJune,,,,,,,,,,June,,,,,,,,,,June,,,,,,,,,,June,,,,,,,,,,June,,,,,,,,,,June,,,,,,,,,,
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