Prepare journal entries to record each of the following transactions.

Assume a perpetual inventory system using the gross method for recording purchases.

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Oct. 1 Purchased $1,000 of goods. Terms of the sale are 4/10, n/30, and FOB shipping point; the invoice is dated October 1. 3 7 11 31 Paid $30 cash for freight charges from UPS for the October 1 purchase. Returned $50 of the $1,000 of goods from the October 1 purchase and received full credit. Paid the amount due from the October 1 purchase (less the return on October 7). Assume the October 11 payment was never made. Instead, payment of the amount due, less the return on October 7, occurred on October 31.