17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. 18 Purchased $8,100 of merchandise from Frist Corp. with credit terms of 1/10, 1/30, invoice dated April 18, and FOB destination. 21 After negotiations, received from Frist a $500 allowance toward the $8,100 owed on the April 18 purchase. 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. is Debit Credit View transaction fist View journal entry worksheet No Date General Journal Apr 02 Merchandise inventory Accounts payable-Lyon 1 4,400 4.400 2 Apr 03 Merchandise inventory 370 370 3 Apr 04 500 Accounts payable-Lyon Miscellaneous expenses 500 4 Apr 17 No Transaction Recorded 5 Apr 18 8,100 8,100 6 Apr 21 500 500 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. 2 Purchased $4,488 of merchandise from Lyon Company with credit terms of 2/15, 1/68, invoice dated April 2, and FOB shipping point. 3 Paid $370 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $500. 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. 18 Purchased $8,180 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and 21 After negotiations, received from Frist a $5ee allowance toward the $8,108 owed on the April 18 purchase. 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. View transaction list View journal entry worksheet No Credit Date Apr 02 General Journal Merchandise inventory Accounts payable-Lyon Debit 4.400 1 4.400 2 Apr 03 Merchandise inventory 370 370 3 Apr 04 500 Accounts payable-Lyon Miscellaneous expenses 500 4 Apr 17 No Transaction Recorded 5 Apr 18 8.100 AM