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Assume Andersons General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $39,000. If the company was charged $810 in transportation cost

Assume Andersons General Store bought, on credit, a truckload of merchandise from American Wholesaling costing $39,000. If the company was charged $810 in transportation cost by National Trucking, immediately returned goods to American Wholesaling costing $2,800, and then took advantage of American Wholesalings 3/10, n/30 purchase discount.

Prepare journal entries to record the inventory transactions, assuming Andersons uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)

1. Record the inventory purchased of $39,000 on account.

2. Record transportation costs of $810 incurred, but not yet paid for the inventory shipment.

3. Record part of the inventory returned of $2,800.

4. Record the payment within the discount period to American Wholesaling for the inventory.

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