Roley corporation uses a periodic inventory system and the gross method of accounting for purchase discounts.
(a) on july 1, (1) roley purchased $60,000 of inventory, terms 2/10, n/30, fob shipping point. (2) roley paid freight costs of $1,200.
(b) on july 3, roley returned damaged goods and received credit of $6,000.
(c) on july 10, roley paid for the goods.
prepare all necessary journal entries for roley. (round answers to 0 decimal places, e. g. 5,275. if no entry is required, select "no entry" for the account titles and enter 0 for the amounts. credit account titles are automatically indented when amount is entered. do not indent manually.)
no. date account titles and explanation debit credit
(a) (1) july 1


(a) (2)


(b) july 3


(c) july 10