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1.Create Journal entries for the transaction. On September 4, New Idea Company buys merchandise on account from Junot company for $1,500, on term 2/10 n

1.Create Journal entries for the transaction.

On September 4, New Idea Company buys merchandise on account from Junot company for $1,500, on term 2/10 n 30. FOB Shipping point.The correct company pays freight charges of $75 on September 5. On September 8, New Idea company returns $200 of merchandise to Junot company. On September 14, New Idea Company pays the total amount owing. Record the transactions for NewIdea Company. Delete any unused journal entries

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