Try another version of this question Consider the following transactions for Z-Container Co.: June 3 Z-Container Co. buys $31,700 worth of merchandise from Can Makers Corp. on account with credit terms of 2/10, n/30. June 10 Z-Container Co. returns $3,300 of the merchandise to Can Makers Corp. June 14 Z-Container Co. paid the amount due, less the return and discount. Journalize the purchase transactions.
Date Description Debit Credit June 3 June 3 June 10 June 10 June 14 June 14 June 14 Date Description Debit Credit June 3 Merchandise Inventory 31,700 June 3 A/P-Can Makers 31,700 June 10 A/P-Can Makers 3,300 June 10 Merchandise Inventory 3,300 June 14 A/P-Can Makers 28,400 June 14 Merchandise Inventory 568 June 14 Cash 27,832