E8.11 Hegge Company uses the periodic inventory system. Journalize the following entries for April, assuming Hegge Company uses the gross price method of recording direct material purchases. April 6 Purchased $15,100 in direct materials from Kunzman Wholesale; terms 1/15, n/30, FOB shipping point. 9 Paid Carper Transit $250 freight charges on the purchase of April 6. 12 Returned $1,400 gross price of direct materials from the April 6 purchase to Kunzman Wholesale because the items were the wrong model. 15 Bought direct materials totaling $65,400 from Massoth, Inc.; terms 2/10, n/30, FOB destination. 20 Returned $8,000 (gross price) of direct materials to Massoth, Inc. Wrong color. 25 Sent amount due to Massoth, Inc. 30 Paid Kunzman Wholesale the amount due. Journal Entries Date Description Debit Credit E8.15 For each of these three credit purchases, prepare the journal entry to record the payment of the obligation. Assume that purchases were paid within the discount period and that the purchasing firm uses the net price method of recording purchases and the perpetual inventory system. Purchase 1 Purchased $108,000 in merchandise from Pilipacek Company; terms 2/10,n/30. Purchase 2 Purchased merchandise with a list price of $55,000 from VanMeter Company; terms 1/EOM, n/60. Purchase 3 Purchased from Fink Corporation, merchandise with a price of $142,000; terms 1/15, n/60.