EA $13.$ LO $6\mathrm{.}5$Review the following situations and record any necessary journal entries for Letter Depot.

Mar. $9$ Letter Depot purchases $$11,420$ worth of merchandise on credit from a manufacturer. Shipping charges are an extra $$480$ cash. Terms of the purchase are $2/10,$ n$/40,$ FOB Destination, invoice dated March $9.$

Mar. $20$ Letter Depot sells $$7,530$ worth of merchandise to a customer who pays on credit. The merchandise has a cost to Letter Depot of $$2,860.$ Shipping charges are an extra $$440$ cash. Terms of the sale are $3/15,$ n$/50,$ FOB Destination, invoice dated March $20.$