Connect Homework de Man Exercise 5-3 Recording purchases, purchases returns, and purchases allowances LOPI Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and me gross method Apr 2 Purchased $4,6 of merchandise from Lyon Company with credit terms of 2715, W6, notce dated April 3, and Fire point Paid $180 cash for shipping charges on the April 2 purchase. Returned to Lyon Company unacceptable merchandise that had an invoice price of 1 Sent a check to Lyon Company for the April 2purchant of the discount and the returned their 18 Purchased seo of merchandise from Frist Core, with credit terus of 1/10/38 Spice dated April 16, nos destination 21 After negotiations, receives free Frist a see allowance toward the won the April 1surchase Set Wheck to paying for the April 1 purchase, net of the licence View con la Journal entry worksheet 1 2 5 Purchased 54,600 merchandise from Lyon Company oth crac terms of 2/15, invece dled Apanding on Grourne Dett