Crane Traders is a wholesaler of fishing rods operating at Forster on the NSW north coast. The company buys fishing rods for $250 each and sells them for $310 each. On the 1^st August the company had 190 fishing rods in its store.

During August 2021 the following transactions took place:

August 3^rd Purchased 100 fishing rods from Reels Express, terms 5/10, n/30

August 4^th Paid $140 freight on the fishing rods purchased from Reels express on August 3^rd.

August 11^th Sold 150 fishing rods on account, terms 5/10, n/30

August 14^th Sold 80 fishing rods for cash.

August 16^th Returned 15 fishing rods purchased last month to Reels Express as they were damaged.

August 18^th A customer returned 20 of the fishing rods sold on August 11^th and paid for the remaining fishing rods sold.

August 24^th Paid for the fishing rods purchased on August 3^rd.

At the end of August, a physical count of inventory revealed that the business had 65 fishing rods in its store.

Required:

a) Prepare the journal entries to record each of the above transactions in the accounting records of Crane Traders assuming that the periodicinventory system is used