Assuming that purchases are recorded at net amounts and that discounts lost are treated as financial expenses: Prepare general journal entries to enter the transactions.

Some of the transactions of Torres Company during August are listed below. Torres uses the periodic inventory method.

August 10		Purchased merchandise on account, $31,400, terms 2/10, n/30.
13		Returned part of the purchase of August 10, $1,500, and received credit on account.
15		Purchased merchandise on account, $36,200, terms 1/10, n/60.
25		Purchased merchandise on account, $42,600, terms 2/10, n/30.
28		Paid invoice of August 15 in full