Khan Products,Inc.,entered into the transactions listed below.In the journal provided,prepare Khan's journal entries,assuming use of the periodic inventory system.Omit explanations.
June $\quad $3 $\quad $Purchased $ \$ 1,600 $ of merchandise on credit, terms $ 2 / 10, n / 60 $.
$\quad $$\quad $$\quad $6$\quad $Returned $ \$ 200 $ of the goods purchased on June 3.
$\quad $$\quad $$\quad $7 $\quad $Paid freight charges of $ \$ 140 $ on goods purchased on June 3.
$\quad $$\quad $$\quad $12$\quad $ Paid for the goods purchased on June 3.
$\quad $$\quad $$\quad $13 $\quad $Sold goods on credit for $ \$ 2,000 $, terms $ 1 / 10,1 / 30 $.
$\quad $$\quad $$\quad $14$\quad $ The customer of June 13 returned $ \$ 200 $ of the goods.
$\quad $$\quad $$\quad $23$\quad $ Received payment from the customer of June 13.
$\quad $$\quad $$\quad $25$\quad $ Purchased office supplies for $ \$ 500 $.

Question

Khan Products,Inc.,entered into the transactions listed below.In the journal provided,prepare Khan's journal entries,assuming use of the periodic inventory system.Omit explanations.
 June $\quad $3 $\quad $Purchased $ \$ 1,600 $ of merchandise on credit, terms $ 2 / 10, n / 60 $.
$\quad $$\quad $$\quad $6$\quad $Returned $ \$ 200 $ of the goods purchased on June 3.
$\quad $$\quad $$\quad $7 $\quad $Paid freight charges of $ \$ 140 $ on goods purchased on June 3.
$\quad $$\quad $$\quad $12$\quad $ Paid for the goods purchased on June 3.
$\quad $$\quad $$\quad $13 $\quad $Sold goods on credit for $ \$ 2,000 $, terms $ 1 / 10,1 / 30 $.
$\quad $$\quad $$\quad $14$\quad $ The customer of June 13 returned $ \$ 200 $ of the goods.
$\quad $$\quad $$\quad $23$\quad $ Received payment from the customer of June 13.
$\quad $$\quad $$\quad $25$\quad $ Purchased office supplies for $ \$ 500 $.

Quizplus · Accepted Answer

The Answer of Khan Products,Inc.,entered into the transactions listed below.In the journal provided,prepare Khan's journal entries,assuming use of the periodic inventory system.Omit explanations.
 June $\quad $3 $\quad $Purchased $ \$ 1,600 $ of merchandise on credit, terms $ 2 / 10, n / 60 $.
$\quad $$\quad $$\quad $6$\quad $Returned $ \$ 200 $ of the goods purchased on June 3.
$\quad $$\quad $$\quad $7 $\quad $Paid freight charges of $ \$ 140 $ on goods purchased on June 3.
$\quad $$\quad $$\quad $12$\quad $ Paid for the goods purchased on June 3.
$\quad $$\quad $$\quad $13 $\quad $Sold goods on credit for $ \$ 2,000 $, terms $ 1 / 10,1 / 30 $.
$\quad $$\quad $$\quad $14$\quad $ The customer of June 13 returned $ \$ 200 $ of the goods.
$\quad $$\quad $$\quad $23$\quad $ Received payment from the customer of June 13.
$\quad $$\quad $$\quad $25$\quad $ Purchased office supplies for $ \$ 500 $.

Khan Products,Inc \quad 3 \quad Purchased $1,600 \$ 1,600 $1,600 Of Merchandise on Credit, Terms

Khan Products,Inc $\quad$ 3 $\quad$ Purchased $\$ 1,600$ Of Merchandise on Credit, Terms