Exercise 4-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual Inventory system and the gross method Apr. 2 Purchased $6,000 of merchandise trom Lyon Company with credit terms of 2/15, 1/60, Involce dated April 2, and TOB shipping point. Pald $310 cash for shipping charges on the April 2 purchase 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $750. 17 Sent a check to 1.yon Company for the April 2 purebane, net of the discount and the returned merchandise. 18 Purchased $11,300 of merchandise from Prat Corp. with credit torms of 1/10, 1/30, Invoice dated April 18, and POB destination 21 After negotiations, received from Trent 8500 allowance toward the $11,300 owed on the April 10 purchase 25 sent check to Trint paying tor the April 18 purchase, net of the allowance and the discount. View transaction list Journal entry worksheet 2 7 Purchased $6,000 of merchandise from Lyon Company with credit terms of 2/15, 1/60, Invoice dated April 2, and FOB shipping point. Not Enterdits before credits nista aan nahi Credit