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3. Using the information below, record the October 2019 merchandising journal entries for McDowell's. Oct. 2 McDowell's purchased $67,000 of merchandise from Harris Co. The
3. Using the information below, record the October 2019 merchandising journal entries for McDowell's. Oct. 2 McDowell's purchased $67,000 of merchandise from Harris Co. The terms are FOB Destination, 2/15, net/45. Oct. 5 McDowell's purchased merchandise on account from JSmooth for $105,000. The terms are FOB Shipping Point, 3/10, net/30. Oct. 6 McDowell's paid $11,00 of freight costs for the merchandise purchased from JSmooth. Oct. 7 McDowell's found $2,150 of merchandise they didn't order and returned it to JSmooth for a refund. Oct. 15 McDowell's paid the amount due to JSmooth in full. Oct. 20 Harris Co. granted McDowell's a $4,800 credit for returned merchandise. Oct. 30 McDowell's paid the amount due to Harris Co. in full
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