Carla Vista Stores is a new company that started operations on March $1,2024.$ The company has decided to use a perpetual inventory system. The following purchase transactions occurred in March:

Mar. Carla Vista Stores purchases $$8,500$ of merchandise for resale from Octagon Wholesalers, terms $2/10,$ n$/30,$ FOB shipping

$1$

point.

The correct company pays $$145$ for the shipping charges.

Carla Vista returns $$1,200$ of the merchandise purchased on March $1$ because it was the wrong colour. Octagon gives Carla Vista a $$1,200$ credit on its account.

$21$

Carla Vista Stores purchases an additional $$14,000$ of merchandise for resale from Octagon Wholesalers, terms $2/10,$ n$/30,$ FOB destination.

$22$ The correct company pays $$160$ for freight charges.

$23$ Carla Vista returns $$550$ of the merchandise purchased on March $21$ because it was damaged. Octagon gives Carla Vista a $$550$ credit on its account.

$30$ Carla Vista paid Octagon the amount owing for the merchandise purchased on March $1.$

$31$ Carla Vista paid Octagon the amount owing for the merchandise purchased on March $21.$

Prepare Carla Vista Stores' journal entries to record the above transactions. Post the transactions to the Merchandise Inventory account. Compare the total in this account with the total of the cash paid

duries inthe order ofloura entes presente in the previous pare$)$

during March by Carla Vista for the purchase of inventory. $($Note: Assume there were no sales of inventory in March.$)($Post

Merchandise InventoryPost the transactions to the Merchandise Inventory account. Compare the total in this account with the total of the cash paid

during March by Carla Vista for the purchase of inventory. $($Note: Assume there were no sales of inventory in March.$)($Post

entries in the order of journal entries presented in the previous part.$)$

Merchandise Inventory

Total cash payments for inventory in March