Try another version of this question Consider the following transactions for Z-Container Co.: June 6 Z-Container Co. buys $31,300 worth of merchandise from Can Makers Corp. on account with credit terms of 2/10, n/30. June 9 Z-Container Co. returns $4,600 of the merchandise to Can Makers Corp. June 15 Z-Container Co. paid the amount due, less the return and discount. Journalize the purchase transactions.
Date Description Debit Credit June 6 June 6 June 9 June 9 June 15 June 15 June 15 Date Description Debit Credit June 6 Merchandise Inventory 31,300 June 6 A/P-Can Makers 31,300 June 9 A/P-Can Makers 4,600 June 9 Merchandise Inventory 4,600 June 15 A/P-Can Makers 26,700 June 15 Merchandise Inventory 534 June 15 Cash 26,166