A retailer uses a perpetual inventory system. During the month of July, the following transactions occurred.

On July 11, the retailer sold merchandise to a customer on terms of 1/10 net 30 days, FOB shipping point. The selling price was $2,800 and cost of the inventory sold was 1,600.

The correct party paid $350 of freight costs on July 12 to the shipping company for delivery of the July 11 sale.

On July 14, the July 11 customer returned $300 of the goods sold to the retailer. The cost of the inventory returned was $170. The stock was undamaged and returned to inventory.

The retailer purchased $8,000 of merchandise from a supplier on July 15. The terms of purchase were 3/15 net 30, FOB shipping point.

The correct party paid $210 of freight costs on July 16 to the shipping company for delivery of the July 15 purchase.

On July 19, the retailer received cash payment from its July 11 customer.

The retailer returned $800 of inventory to its supplier on July 22. The inventory was purchased on July 15.

On July 26, the retailer paid for the inventory purchased on July 15.

REQUIRED - Prepare the retailers journal entries for the above transactions