* C MyDeco Chettim C Prepare Journal Entries to Recor X + cation.com/ext/map/indexhtml?con con external browser=0&launchurahttps%253A9 bhosted cunty edu/1252Fweb HW Seved Help Save & Ches Exercise 5-3 Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and gross method Apr 2 Purchased 55,900 of merchandise from Ly company with credit te 2/15, n/60, invoice dated April 2 and Food point 3 Paid $10 cash for shipping charges on the April 2 purchase Returned to Lyon Company unacceptable merchandise that had an invoice price of $50 17 Sento check to Lyon Company for the oril 2 purchase, net of the discount and the returned merchandise 18 Purchased $11,100 of merchandise from Frist Corp. with credit tans of 1/10, 30, involce dated Avid 18, and to destination 21 After negotiations, received from Frist $600 allowance toward the $11,100 ved on the April 1 purchase 28 Sent check to Frist paying for the April 18 purchase of the allowance and the discount Viewonin Journal entry worksheet Prav Foto De totech o TE . - un 8 E R