1 Prepare the Journal Entries in JC Macy's Variety Store books using the 1. On June 1, JC Macy's Variety Store purchased on credit from Wholesalers Department Store merchandises valued at $155,000. One June 1, Paid freight costs, $100 FOB Shipping Point, on merchandise purchased from Wholesalers Department Store On June 3, Jc Macy' s Variety Store returned merchandise valued at $25,000 On June 5, Jc Macy's Variety Store sold $150,000 in merchandise to Tom. The merchandise costs JC Macy's Variety Store $65,000 The credit term was 4/10, n/30 2. 3. 4. 5. On June 7, Tom returned $55,000 of the merchandise to Jc Macy's Variety Store. The merchandise had cost JC Macy's Variety Store $25,000 On June 9 Tom paid by cash the balance owed to JC Macy's Variety Store. 6. 7. JC Macy's Variety Store paid invoice for merchandise purchased from Wholesalers Department Store on June 15. Date General Ledger Acount Debit