PR 6-6B Sales-related and purchase-related transactions for seller and buyer
The following selected transactions were completed during June between Salinas Company and Brokaw Company:
| June 2. | Salinas Company sold merchandise on account to Brokaw Company, $20,000, terms FOB shipping point, 2/10, n/30. Salinas Company paid freight of $675, which was added to the invoice. The cost of the merchandise sold was $12,000. |
| 8. | Salinas Company sold merchandise on account to Brokaw Company, $34,750, terms FOB destination, 1/15, n/eom. The cost of the merchandise sold was $19,850. |
| 8. | Salinas Company paid freight of $800 for delivery of merchandise sold to Brokaw Company on June 8. |
| 12. | Brokaw Company returned $5,750 of merchandise purchased on account on June 8 from Salinas Company. The cost of the merchandise returned was $3,000. |
| 12. | Brokaw Company paid Salinas Company for purchase of June 2, less discount. |
| 23. | Brokaw Company paid Salinas Company for purchase of June 8, less discount and less return of June 12. |
| 24. | Salinas Company sold merchandise on account to Brokaw Company, $31,800, terms FOB shipping point, n/eom. The cost of the merchandise sold was $20,500. |
| 26. | Brokaw Company paid freight of $475 on June 24 purchase from Salinas Company. |
| 30. | Brokaw Company paid Salinas Company on account for purchase of June 24. |
Instructions
Journalize the June transactions for (1) Salinas Company and (2) Brokaw Company.
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