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Account titles available for use: Cash Accounts Receivable Purchases Purchase Allowances Purchase Returns Sales Revenue Cost of Goods Sold Freight Expense Accounts Payable Purchase Discounts

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Account titles available for use: Cash Accounts Receivable Purchases Purchase Allowances Purchase Returns Sales Revenue Cost of Goods Sold Freight Expense Accounts Payable Purchase Discounts Sales Returns Interest Expense Inventory Supplies Freight-In Loss from Inventory Shrinkage Record the following transaction using the periodic method. For account titles use the account names listed above (be cautious about spelling as this can return an incorrect answer). For transaction amounts do not use "$" or commas in your answer. For compound entries list the larger debits and credit first. Purchased $7,900 of goods on account. The freight charges on the goods were $50. DR ACCT ADR amount 7900 DR ACCT A DR amount 50 AJ CR ACCT Accounts A 7900 CR amount

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