1. Journalize all necessary transactions for Hayes Jewelers. Explanations are not required.

Hayes Jewelers had the following purchase transactions. Journalize all necessary transactions. Explanations are not required. 
Jun. 20 Purchased inventory of $ 5,800 on account from Slater Diamonds, a jewelry importer. Terms were 3/15, n/45, FOB shipping point. 
20 Paid freight charges, $ 400. 
Jul. 4 Returned $ 800 of inventory to Slater. 
14 Paid Slater Diamonds, less return. 
16 Purchased inventory of $ 3,480 on account from Schmitt Diamonds, a jewelry importer. Terms were 2/10, n/EOM, FOB destination. 
18 Received a $ 480 allowance from Schmitt for damaged but usable goods. 
24 Paid Schmitt Diamonds, less allowance and discount.

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