Lumen OHM Assessment

Big Box Hardware Company engaged in the following transactions in June.

June 1 Sold merchandise on account for $250,700; terms 2/10, n/30, FOB shipping point, freight collect.
June 5 $41,200 of the good sold on account on June 1 were returned for a full credit. Payment of the goods had not yet been received.
June 6 Purchased merchandise on account in the amount of $125,900; credit terms are 2/10, N/30.
June 9 A sales allowance was granted for merchandise sold June 1 for $5,570 which was damaged in shipment.
June 10 Returned merchandise from June 6 purchase totaling $41,500.
June 11 Payment was received for the net amount due from the sale of June 1.
June 12 Paid amount owed from June 6 purchase less return and discount.

Journalize the transactions.

Journal
Date	Description	Debit	Credit
June 1	A/R	250,700.00
June 1	Sales Revenue		250,700.00

June 5	Sales Returns & Allowances	41,200.00
June 5	A/R		41,200.00

June 6	Purchases	125,900.00
June 6	A/P		125,900.00

June 9	Sales Returns & Allowances	5,570.00
June 9	A/R		5,570.00

June 10	A/P	41,500.00
June 10	Purchases Returns & Allowances		41,500.00

June 11	Cash	199,851.40
June 11	Sales Discounts	4,078.60
June 11	A/R		203,930.00

June 12	A/P	84,400.00
June 12	Purchases Discounts		1,688.00
June 12	Cash		82,712.00