Buy Financial Accounting Bank Reconciliation

Buy Financial Accounting Bank Reconciliation
The following selected transactions were completed during June between Frank Company and Johnson Company:
1. June 6 – Frank Company sold merchandise on account to Johnson Company, $15,000, terms FOB destination, 1/15, n/eom. The cost of the merchandise sold was $12,000.
2. June 6 – Frank Company paid transportations costs of$ 100 for delivery of merchandise sold to Johnson Company on June 8.
3. June 12 – Johnson Company returned $4,000 of merchandise purchased on account on June 6th from Frank Company. The cost of the merchandise returned was $3,000.
4. June 20 – Johnson Company paid Frank Company for the purchase of June 8th, less discount and less return of June 12th.
Instructions:
Illustrate the effects of each of the preceding transactions on the balance sheets of (1) Frank Company and (2) Johnson Company. Identify each transaction by date.
Problem