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Posted: September 13th, 2024
Strayer ACC100 100 On June 10, Tuzun Company purchased $8,100 of merchandise
On June 10, Tuzun Company purchased $8,100 of merchandise from Epps Company, FOB shipping point, terms 2/10, n/30. Tuzun pays the freight costs of $480 on June 11. Damaged goods totaling $400 are returned to Epps for credit on June 12. The fair value of these goods is $170. On June 19, Tuzun pays Epps Company in full, less the purchase discount. Both companies use a perpetual inventory system.(a) Prepare separate entries for each transaction on the books of Tuzun Company. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) DateAccount Titles and ExplanationDebitCredit June 10June 11June 12June 19 June 10June 11June 12June 19 June 10June 11June 12June 19 June 10June 11June 12June 19
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