Answer:
Explanation:
The journal entries are shown below:
On June 10
Merchandise Inventory A/c $10,000
To Accounts payable A/c $10,000
(Being goods purchased on credit)
On June 11
Merchandise inventory A/c Dr $610
To Cash A/c $610
(Being freight is paid by cash)
On June 12
Accounts payable A/c Dr $360
To Merchandise Inventory A/c $360
(Being goods returned)
On June 19
Accounts payable A/c Dr $9,640 ($10,000 - $360)
To Cash A/c $9,543.60
To Merchandise Inventory A/c $96.4 ($10,000 - $360)× 1%
(Being due amount is paid and the remaining amount is credited to the cash account)
The journal entries of the Diaz Company is given in the image below.
A journal entry refers to the act of creating records of any transactions, Which are occurred in cash or credit. Transactions are numbered in an accounting journal that presents a company's debit and credit balances.
The journal entry can belong of several recordings, each of which is either a debit or a credit.
Here, the merchandise inventory account is credited at last by the amount $94.6 ($10,000-$360)1%.
Learn more about the journal entries, refer to:
https://brainly.com/question/17439126
