Review the following transactions, and prepare any necessary journal entries for Sewing Masters Inc.
A. On October 3, Sewing Masters Inc. purchases 800 yards of fabric (Fabric Inventory) at $9.00 per yard from a supplier, on credit. Terms of the purchase are 1/5, n/40 from the invoice date of October 3.
B. On October 8, Sewing Masters Inc. purchases 300 more yards of fabric from the same supplier at an increased price of $9.25 per yard, on credit. Terms of the purchase are 5/10, n/20 from the invoice date of October 8.
C. On October 18, Sewing Masters pays cash for the amount due to the fabric supplier from the October 8 transaction.
D. On October 23, Sewing Masters pays cash for the amount due to the fabric supplier from the October 3 transaction.