NewTech Medical Devices is a medical devices wholesaler

that commenced
NewTech Medical Devices is a medical devices wholesaler that commenced business on June
1, 2019. NewTech Medical Devices purchases merchandise for cash and on open account. In
June 2019, NewTech Medical Devices engaged in the following purchasing and cash payment
activities:DATE TRANSACTIONS2019June 1 Issued Check 101 to purchase merchandise,
$4,500.3 Purchased merchandise for $1,700 from BioCenter Inc., Invoice 606; terms 2/10,
n/30.5 Purchased merchandise for $5,850, plus a freight charge of $110, from New Concepts
Corporation, Invoice 1011, terms 2/10, n/30.9 Paid amount due to BioCenter Inc. for purchase
of June 3, less discount, Check 102.10 Received Credit Memorandum 227 from New Concepts
Corporation for damaged merchandise totaling $150 that was returned; the goods were
purchased on Invoice 1011, dated June 5.11 Purchased merchandise for $1,680 from
BioCenter Inc., Invoice 612; terms 2/10, n/30.14 Paid amount due to New Concepts Corporation
for Invoice 1011 of June 5, less the return of June 10 and less the cash discount, Check 103.15
Purchased merchandise with a list price of $9,200 and trade discounts of 20 percent and 15
percent from Park Research, Invoice 1029, terms n/30.20 Issued Check 104 to purchase
merchandise, $3,000.25 Returned merchandise purchased on June 20 as defective, receiving a
cash refund of $280.30 Purchased merchandise for $3,200, plus a freight charge of $85, from
New Concepts Corporation, Invoice 1080; terms 2/10, n/30.INSTRUCTIONSJournalize the
transactions in a general journal. Use 1 as the journal page number.Analyze:What was the
amount of trade discounts received on the June 15 purchase from Park Research?View
Solution: NewTech Medical Devices is a medical devices wholesaler that commenced
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