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2. Maeve's Wholesaler had the following transactions during December, the last month one accounting period: (20 marks) Dec. 12 old merchandise on credit to Jack's

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2. Maeve's Wholesaler had the following transactions during December, the last month one accounting period: (20 marks) Dec. 12 old merchandise on credit to Jack's Convenience for $7,000, cost $3,000 terms 1/10, n/30. 113 Purchased $1,900 merchandise for cash from Western Distribution. 14 Purchased merchandise on credit from Eastern Distribution for $5,600, terms 2/10, n/30. Issued a credit memorandum for $600 to a Jack's who returned merchandise purchased December 1, cost $400. 21 Received payment for merchandise sold December 12. Received a credit memorandum for $600 for the return of faulty merchandise to Eastern -- Distribution. Merchandise purchased on December 14. 22 Paid freight charges of $50 for merchandise ordered December 14. 23 Paid for the merchandise purchased December 14 less merchandise returned. 23 Sold merchandise on credit for $9,000, terms 1/10 n/30, cost $6,500. 27 Received payment for merchandise sold on December 23. Prepare general journal entries to record these transactions, using a perpetual inventory system

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