Neutron uses a periodic inventory system.Prepare general journal entries to record the following transactions for Neutron:
$\begin{array}{|l|l|l|}
\hline \text { June } & 10 & \begin{array}{l}
\text { Neutron purchased merchandise on credit from Proton for } \$ 9,000 \text {, terms } 2 / 10, \
\mathrm{n} / 30 . \text { FOB destination. Transportation costs of } \$ 350 \text { were paid by Proton. }
\end{array} \
\hline & 12 & \text { Neutron returned } \$ 600 \text { of merchandise from the June } 10 \text { purchase. } \
\hline & 19 & \text { Neutron paid Proton for the June } 10 \text { purchase. }\
\hline
\end{array}$

Question

Neutron uses a periodic inventory system.Prepare general journal entries to record the following transactions for Neutron:
 $\begin{array}{|l|l|l|}
\hline \text { June } & 10 & \begin{array}{l}
\text { Neutron purchased merchandise on credit from Proton for } \$ 9,000 \text {, terms } 2 / 10, \
\mathrm{n} / 30 . \text { FOB destination. Transportation costs of } \$ 350 \text { were paid by Proton. }
\end{array} \
\hline & 12 & \text { Neutron returned } \$ 600 \text { of merchandise from the June } 10 \text { purchase. } \
\hline & 19 & \text { Neutron paid Proton for the June } 10 \text { purchase. }\
\hline 
\end{array}$

Quizplus · Accepted Answer

The Answer of Neutron uses a periodic inventory system.Prepare general journal entries to record the following transactions for Neutron:
 $\begin{array}{|l|l|l|}
\hline \text { June } & 10 & \begin{array}{l}
\text { Neutron purchased merchandise on credit from Proton for } \$ 9,000 \text {, terms } 2 / 10, \
\mathrm{n} / 30 . \text { FOB destination. Transportation costs of } \$ 350 \text { were paid by Proton. }
\end{array} \
\hline & 12 & \text { Neutron returned } \$ 600 \text { of merchandise from the June } 10 \text { purchase. } \
\hline & 19 & \text { Neutron paid Proton for the June } 10 \text { purchase. }\
\hline 
\end{array}$

Neutron Uses a Periodic Inventory System