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3. Prepare journals entries for the following assuming that Mygoodoh Inc, uses a perpetual inventory method and records purchases at their net amounts. (10 points)

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3. Prepare journals entries for the following assuming that Mygoodoh Inc, uses a perpetual inventory method and records purchases at their net amounts. (10 points) March 31 Mygoodoh company has $6,500 as it ending inventory this amount is reported at net of cost. (hints no journal entry is necessary) April 1 Purchased merchandise from Lasten Company for $44,600 with the terms of 3/10, n/30. April 2 Returned $6,200 of the merchandise to the Lasten Company. April 4 Purchased merchandise from the Clayham Company for $21,200 with the terms of 4/10,n/30. April 6 Paid the amount owed to the Lasten Company April 12 Sold all of the merchandise on hand (for cash) for a sales price of $75,400, April 13 Returned $8,800 of the merchandise purchased from the Clayham Company April 16 Paid the amount owed to Clayham Company in full

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