(L. OBJ. 2) Journalizing purchase transactions perpetual system [10—15 min]
On April 30, 2012, Daigle Jewelers purchased inventory of $5,700 on account from Hart Diamonds, a jewelry importer. Terms were 3/15, net 45. The same day Daigle paid freight charges of $500. Upon receiving the goods, Daigle checked the order and found $1,200 of unsuitable merchandise, which was returned to Hart on May 4. Then, on May 14, Daigle paid the invoice.
Requirement
1. Journalize all necessary transactions for Daigle Jewelers. Explanations are not required.
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