1025&page=2&scrollpos=1271.25*3#q = AME Engage Question 3 Take me to the text English (en) - Partially correct Mark 9.00 out of 32.00 P Flag question Krystal Casinos, owned by Mathew Klean, has provided you with the following information about the transactions occurring in April 2021. related to the casino gift shop. This company uses the periodic inventory system. Krystal Casinos received a shipment of gift mugs for resale from Mug Manufacturers. The amount on the invoice is $9.400 and the stated Apr 2 terms are: 4/15, n/60. Apr 3 Krystal Casinos paid $500 cash for shipping charges. The manager of the gift shop checked the shipped cups and found that goods worth $700 were defective. The defective goods were returned to the supplier. Apr 11 Krystal Casinos paid the remaining invoice balance and, in doing so, took advantage of the early payment discount. Apr 20 Krystal Casinos sold all the mugs retained from the shipment to James Tours for $16,000. Apr 22 James Tours found 15% worth of items to be defective and returned these to Krystal Casinos. The goods cannot be resold The invoice to James Tours showed terms 2/10, n/60. James Tours paid the remaining invoice balance after taking advantage of the early settlement discount Apr 7 Apr 28 Do not enter dollar signs or commas in the input boxes. If more than one debit or credit is used in a journal entry, select the accounts in alphabetical order. Round your answers to the nearest whole number. Required Prepare the journal entries to record the purchase and sales transactions. Date Account Title and Explanation Debit Credit III AME Engage Date Account Title and Explanation Debit Credit 2018 Apr 2 Purchases 9400 Accounts Payable 9400 Record purchase of inventory Apr 3 Freight-in Cash Record freght-in charges Apr 7 Accounts Payable Purchase Returns and Allowances - To record purchase returns Apr 11 Cash Cash Cash Paid remaining invoice balance less discount received for early payment Apr 20 peppe-3900509dcmid=1095235&page=28scrollpos=1271.25343 = AME Engage To record purchase returns Apr 11 Cash > Cash Cash * Paid remaining invoice balance less discount received for early payment Apr 20 Goods sold on account Apr 22 Defective goods returned by the buyer Apr 28 + Received amount from customer