Exercise 4-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for o retail store. The company uses o perpetuol inventory system and the gross method Apeil 2. Furchased \$s, 300 of merchandise fron Lyon Conpany with credit terps of 2/15, n/te, Invoice dated April 2 , and fok shippite. poirit. April 3 Paid $380 cash for shipping charges on the April ? purchase. April a Heturned to Lyon Company unacceptable merchasdise that thad an imvoice price of s7se. April i7 sent a check to tyon company for the April 2 purchase, net of the discount and the returned merchandise. April 18 purchased 59,900 of merchandise from frist corporation mith credit teras of 1/10, n/30, invoite dated April tis, and foe April 21 after negotiations over scuffed merchandise, received fron frist a $500 allowance toward the so, pog awed on the April tis. destination: Apri1 28 Sent check to frist paying for the Apri1 18 purchase, net of the allowance and the discount. purchase. Journal entry worksheet Purchased $5,300 of merchandise from Lyon Company with credit terms of 2/15,n/60, invoice dated April 2, and FOB shipping point. Note: Enter debits before credits. Paid $380 cash for shipping charges on the April 2 purchase. Note: Enter debits before credits