Khan Products,Inc $\quad$ 3 $\quad$ Purchased $\$ 1,600$ Of Merchandise on Credit, Terms

question 173

Essay

Khan Products,Inc.,entered into the transactions listed below.In the journal provided,prepare Khan's journal entries,assuming use of the periodic inventory system.Omit explanations.
June $\quad$ 3 $\quad$ Purchased $\$ 1,600$ of merchandise on credit, terms $2 / 10, n / 60$ .
$\quad$$\quad$$\quad$ 6 $\quad$ Returned $\$ 200$ of the goods purchased on June 3.
$\quad$$\quad$$\quad$ 7 $\quad$ Paid freight charges of $\$ 140$ on goods purchased on June 3.
$\quad$$\quad$$\quad$ 12 $\quad$ Paid for the goods purchased on June 3.
$\quad$$\quad$$\quad$ 13 $\quad$ Sold goods on credit for $\$ 2,000$ , terms $1 / 10,1 / 30$ .
$\quad$$\quad$$\quad$ 14 $\quad$ The customer of June 13 returned $\$ 200$ of the goods.
$\quad$$\quad$$\quad$ 23 $\quad$ Received payment from the customer of June 13.
$\quad$$\quad$$\quad$ 25 $\quad$ Purchased office supplies for $\$ 500$ .

---

Definitions:

Classical Conditioning

A learning process where a neutral stimulus becomes associated with a meaningful stimulus and acquires the capacity to elicit similar responses.

Rescorla

Robert Rescorla, a psychologist best known for his work with Allan Wagner on the Rescorla-Wagner model of classical conditioning, focusing on the predictability of the unconditioned stimulus.

Classical Conditioning

An educational strategy where two stimuli are habitually paired together, causing a response that initially results from the second stimulus to be gradually elicited by the first stimulus.

Likelihood Of Occurrence

Refers to the probability or chance that a given event will happen.