Award: 2.50 points Exercise 4-3 Recording purchases, purchases returns, and purchases allowances LO P Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. 2 Purchased $3,200 of merchandise from Lyon Company with credit terms of 2/15, nv60, invoice dated Apil 2, and FOB shipping point 3 Paid $290 cash for shipping charges on the April 2 purchase 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $550. 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. 18 Purchased $5,700 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination 21 After negotiations, received from Frist a $600 allowance toward the $5,700 owed on the April 18 purchase. 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. ew transaction list Journal entry worksheet Purchased $3,200 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. Note: Enter debits before credits. General Journal Debit Credit Date Apr 02 View general journal Hints Hint #1 tpxPtodo c15Single PrintView&singleQuestionNo-3.&postSubmissionView-132527073472503528wid-13252707374172093&