6.2

Recording Purchase Transactions Mathis Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of Apri: a. On April 1, Mathis purchased merchandise on account from Reece with credit terms of 2/10,N30. The seling price of the merchandise was $3,600, and the cost of the merchandise sold was $2,450. b. On April 1, Mathis paid freight charges of $100 cash to have the goods delvered to its warehouse. c. On April 8 , Mathis returned $1,000 of the merchandise, which had originally cost Reece $700. d. On April 10, Mathis paid Reece the balance due. Requiredt 1. Prepare the journal entry to record the Apral 1 purchase (lonore any treight charges) of merchandise by Mathis Company. If an amount box does not require an entry. leave it blank. (Purchased anventory on actuum: Prepare the journal entry to record the payment of freight on Aprii 1. If an amount box does not require an entry, leave it blank. (Recorded the payment or weyrin wum > pul, 2. Prepare the journal entry to record the April 8 return of merchandise by Mathis. If an amount box does not require an entry, leave it blank. April 8 (Returned merchandise) 3. Prepare the journal entry to record the April 10 payment to Reece. If an amount box does not require an entry, leave it blank. (Paid accounts payable within discount period)