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:

Racial Relations

The dynamics and quality of interactions between different racial groups, including aspects of cooperation, conflict, and understanding.

Retail Setting

A business venue where consumer goods are sold directly to the public, such as stores, malls, and online marketplaces.

Starbucks

An international coffeehouse chain known for its variety of coffee drinks, emphasizing quality, customer experience, and brand culture.

Service Delays

Occurrences that result in a postponement of the expected delivery of a particular service.