Date: Date: Class: III Accounting I 13. Journalize the following transactions assuming a perpetual inventory system: way Purchased merchandise from Archie Co., $6,000, terms FOB shipping point, 2/10, n/30. Prepaid freight costs of $100 were added to the invoice. Issued a debit memo to Archie Co. for $2,500 of merchandise returned from purchase on May 5. Paid Archie Co. for invoice of May 5, less debit memo of May 12 and discount. 12 14