Reference no: EM132762990
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.
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