Reference no: EM132710072

Question - Brady Systems entered into the transactions listed below. In the journal provided, prepare Brady's journal entries, assuming use of the periodic inventory system. Omit explanations.

June 3 Purchased $800 of merchandise on credit, terms 2/10, n/60.

June 6 Returned $100 of the goods purchased on June 3.

June 7 Paid freight charges of $70 on goods purchased on June 3.

June 12 Paid for the goods purchased on June 3.

June 13 Sold goods on credit for $1,000, terms 1/10, n/30.

June 14 The customer of June 13 returned $100 of the goods.

June 23 Received payment from the customer of June 13.

June 25 Purchased office supplies for $250.