Exercise 5-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Preparejoumai entries to record the following transactions for a retail store. The company uses a perpefual inventory system and the gross method. Aprit 2. Purchased s5, see of nerchandise from Lyen Cospany with credit terns of 2/15, N/6e, invoice dated April 2, and Fos shipoing point. Aorit.3 Paid 5340 cash for shipping charpes on the A9rit-2 purchase. April 4 Returnes to tyon Conpany unacceptable merchandise that had an invotce price of s8ee. Aprit 17 Sent a check to tyon conpany for the Aprit 2 purchase, net of the discount and the retumed nerchandise. Aprit is Purchused $10, , see of derchandise fron Frist Corporation with credit teras of 1/16, n/30, invoice dated Aprit 21 After nesstiations ever scuffed nerchandise, received from Frist a steo allowance tovard the s1e, 360 oved on the Aprit 18 purchase. April 28 Sent check te Frist paying for the April 18 purchase, net of the allowance and the discount. Journal entry worksheet (2) (4) 3 ( 3 ( 3 Purchased 35,500 of merchandise from tyon Company with credit terms of 215, N/60, invelce duted April 2, and ro shipping point. Mith titer sebes beture eredita. Exercise 5.3 (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 grossmethod Mpri1 2 Purchased $5, see of nerchandise fron Lyen Cospany with credit terns of 2/15, n/6e, invoice dated Aoril 2 , and Fos shipping point. Agril 3 Paid $34 tisash fof shipping charges on the Agril 2 purchase. April 4 Returned to Lyen coepany unacceptable nerchandise that had an invoice price of seae. Aprit 17 Sest a check to Lyon Company for the Aprit 2 purchase, net of the discount and the returned aerchandise; AprII is Purchased S1e, 3ea of aerchandise from Frist Corporation with credit teras of 1/10, n/30, ievoice dated Aeril 18, and Fon destination. Aprit 21 After negotiations over scuffed merchandise, received from Frist a s4ea allowance toward the 510,360 owed on the Aprit 18 purchase. Aprit 28 Sent check to frist paying for the April 1l purchase, net of the allowance and the discount. Journal entry worksheet Exercise 5-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepsre joumal entries to record the following transections for a retail store. The company uses a perpetual inventory system and the gross method: Aprit:2 Purchased s5, see of serchandise fron Lyen Cospany with credit terms of 2/15, A/Es, invoice dated Aprit 2. and fos shipping point. April 3 pald 434 cash for shipping charges on the April 2 purchase. Aorit 4 Returned to Lyen Compony unacceptable merchandise that had an invoice orice of saee. Aprit 17 Sent a check to Lyon Conpany for the Apri1 2 purchase, net of the discount and the returned serchandise. Aprit is Purchased 510,300 of nerchandise from Frist corporation with credit teras of 1/2e, n/38, Invoice dated Aorit 18, and for destination. Abril 21 Arter negotiations ever scuffed nerchandise, received from Frist a s4ae allowance tovard the 116 , aed oved on the Aprit in purchase. Aprit 28 Sent check to Frist paying for the Aprit 18 purchase, net of the allowance and the discount. Journal entry worksheet Exercise 5-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Pregare joumai entries to record the following transactions for a retall store. The company uses a perpetual inkentory system and the gross method. April 2 Purchased 55, see of merchandise from Lyon Company with credit teras of 2/15, n/sa, invoice dated Aprit 2 , Aprit 3 paid 5348 cash for shipeing charges on the Aprit 2 purchase. Aprit.4 Aeturned to Lyon Conpany unacceptable merchandise that had an invoice price of sese. Aprit 17 Sent a check to Lyon Company for the April? purchase, net of the discount and the returned serchandise. Aprit in Purchased s1e, 30e of merchandise fron Frist corporation with credit terns of 1/1e, nfab, iovoice dated Aprit 18, and Fog destination. Aprit 21 After negotiations over scuffed merchandise, received from frist a s4e0 allowance toward the s1e; 300 oved April 2f Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. Journal entry worksheet (2) 3 5 6 3 Sent a check to Lyon Company for the Apell 2 purchase, net of the obsount and the returned merchandise. Notas Erder debits tefort oretits. Exercise 5-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepore journal entries to record the following transections for a retail store. The company uses a perpetiual inventory system and the goss method. April 2 Purchased 55,500 of merchandise trom Lyon Conpany with credit terAs of 2/15, n/6e, invoice dated Aprit 2 , sud FOb shipping point. April.3 Paid s3ae cash tor shipping charges on the April 2 purchase. April 4 Returned to Lyon Conpany unacceptable merchandise that had an invoice price of 1889. April 12 Sent a check to lyoe cospany for the April 2 purchase, net of the discount and the returned aerchandise. Aori1 18 Purchased s1e, 3ee of merchandise fron Frist Corperation with credit teras of 1/10, n/38, invoice dated April 18, and Foe dest ination. April 21 After negotations over scuffed merehandise, received from Frist a s4ae allowance toward the 510,39e oved on the April is purchsse. Aprit 28 Seot cheek to Frist paying for the April 18 porchase, net of the allowance and the discount, Journal entry worksheet faitei-erter detita betfore crithts Exercise 5-3 (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. April 2 Purchased 55,5ee of nerchandise from Lyan Company with credit terns of 2/15, n/6e, invoice dated Apri1 2 , and FGe shipping point. Aprit 3 Paid 334s cash fer thipping charges on the Aprit 2 purchase. Aprat 4 Returned to Lyon Coopaty unacceptable merchandise that had an invoice price of ssee. Aprii 17 Sent a check to Lyen Conpany for the Aprili 2 purchase, net of the discount and the returned serchandise. April 18 Purchased \$10, 3ee of merchandise from frist Corporation with credit teras of 1/16, n/3e, involce. dated Aprik 11 After negotiations over scuffed merchandise, received from Frist a sdea allowance toward the s1a, 3be oued April 28 sent check to Irist paying for the Aprit 18 purchase, net of the atlovance and the discount. Journal entry worksheet Exercise 5-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepare joumal entries to record the followhg transactions for a retal store. The company uses a perpetual inventory system and the gross method. April 2 Purchased 15,5e0 of merchandise fron Lyon Corpany with credit teras of 2/15, n/60, invoice dated Aprit 2 . and Fod shipping point. Apr1t 3 Paid 5340 cash for shipping charges on the Apr11 2 purehase. Aprii 4 Returned to Lyon conpany unacceptable nerchandise that had an invoice price of ssea. Apri1, 17 Sent a check to Lyon Compbny for the April 2 purchase, net of the discount and the returned merchandise. Aprit it Purchased 110 , 3ee of nerchandise fron Prist Corporation with credit terns of 1/19, n/36, invoice dated April 18 , and foB destinstion. April 21 After negotiations over scuffed aerchandise, received fron Frist a s4ee allowance toward the s1a,3ee oved on the April is parchase. Aprit 2B Sent check to Frist paying fer the April 18 purchase, net of the allovance and the discount. Journal entry worksheet Sent check to fritet paying for the Agril 18 gurchase, net of the allowance and the discount. Whatel Enter artits befire crudta Exercise 5-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Preparejoumai entries to record the following transactions for a retail store. The company uses a perpefual inventory system and the gross method. Aprit 2. Purchased s5, see of nerchandise from Lyen Cospany with credit terns of 2/15, N/6e, invoice dated April 2, and Fos shipoing point. Aorit.3 Paid 5340 cash for shipping charpes on the A9rit-2 purchase. April 4 Returnes to tyon Conpany unacceptable merchandise that had an invotce price of s8ee. Aprit 17 Sent a check to tyon conpany for the Aprit 2 purchase, net of the discount and the retumed nerchandise. Aprit is Purchused $10, , see of derchandise fron Frist Corporation with credit teras of 1/16, n/30, invoice dated Aprit 21 After nesstiations ever scuffed nerchandise, received from Frist a steo allowance tovard the s1e, 360 oved on the Aprit 18 purchase. April 28 Sent check te Frist paying for the April 18 purchase, net of the allowance and the discount. Journal entry worksheet (2) (4) 3 ( 3 ( 3 Purchased 35,500 of merchandise from tyon Company with credit terms of 215, N/60, invelce duted April 2, and ro shipping point. Mith titer sebes beture eredita. Exercise 5.3 (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 grossmethod Mpri1 2 Purchased $5, see of nerchandise fron Lyen Cospany with credit terns of 2/15, n/6e, invoice dated Aoril 2 , and Fos shipping point. Agril 3 Paid $34 tisash fof shipping charges on the Agril 2 purchase. April 4 Returned to Lyen coepany unacceptable nerchandise that had an invoice price of seae. Aprit 17 Sest a check to Lyon Company for the Aprit 2 purchase, net of the discount and the returned aerchandise; AprII is Purchased S1e, 3ea of aerchandise from Frist Corporation with credit teras of 1/10, n/30, ievoice dated Aeril 18, and Fon destination. Aprit 21 After negotiations over scuffed merchandise, received from Frist a s4ea allowance toward the 510,360 owed on the Aprit 18 purchase. Aprit 28 Sent check to frist paying for the April 1l purchase, net of the allowance and the discount. Journal entry worksheet Exercise 5-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepsre joumal entries to record the following transections for a retail store. The company uses a perpetual inventory system and the gross method: Aprit:2 Purchased s5, see of serchandise fron Lyen Cospany with credit terms of 2/15, A/Es, invoice dated Aprit 2. and fos shipping point. April 3 pald 434 cash for shipping charges on the April 2 purchase. Aorit 4 Returned to Lyen Compony unacceptable merchandise that had an invoice orice of saee. Aprit 17 Sent a check to Lyon Conpany for the Apri1 2 purchase, net of the discount and the returned serchandise. Aprit is Purchased 510,300 of nerchandise from Frist corporation with credit teras of 1/2e, n/38, Invoice dated Aorit 18, and for destination. Abril 21 Arter negotiations ever scuffed nerchandise, received from Frist a s4ae allowance tovard the 116 , aed oved on the Aprit in purchase. Aprit 28 Sent check to Frist paying for the Aprit 18 purchase, net of the allowance and the discount. Journal entry worksheet Exercise 5-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Pregare joumai entries to record the following transactions for a retall store. The company uses a perpetual inkentory system and the gross method. April 2 Purchased 55, see of merchandise from Lyon Company with credit teras of 2/15, n/sa, invoice dated Aprit 2 , Aprit 3 paid 5348 cash for shipeing charges on the Aprit 2 purchase. Aprit.4 Aeturned to Lyon Conpany unacceptable merchandise that had an invoice price of sese. Aprit 17 Sent a check to Lyon Company for the April? purchase, net of the discount and the returned serchandise. Aprit in Purchased s1e, 30e of merchandise fron Frist corporation with credit terns of 1/1e, nfab, iovoice dated Aprit 18, and Fog destination. Aprit 21 After negotiations over scuffed merchandise, received from frist a s4e0 allowance toward the s1e; 300 oved April 2f Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. Journal entry worksheet (2) 3 5 6 3 Sent a check to Lyon Company for the Apell 2 purchase, net of the obsount and the returned merchandise. Notas Erder debits tefort oretits. Exercise 5-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepore journal entries to record the following transections for a retail store. The company uses a perpetiual inventory system and the goss method. April 2 Purchased 55,500 of merchandise trom Lyon Conpany with credit terAs of 2/15, n/6e, invoice dated Aprit 2 , sud FOb shipping point. April.3 Paid s3ae cash tor shipping charges on the April 2 purchase. April 4 Returned to Lyon Conpany unacceptable merchandise that had an invoice price of 1889. April 12 Sent a check to lyoe cospany for the April 2 purchase, net of the discount and the returned aerchandise. Aori1 18 Purchased s1e, 3ee of merchandise fron Frist Corperation with credit teras of 1/10, n/38, invoice dated April 18, and Foe dest ination. April 21 After negotations over scuffed merehandise, received from Frist a s4ae allowance toward the 510,39e oved on the April is purchsse. Aprit 28 Seot cheek to Frist paying for the April 18 porchase, net of the allowance and the discount, Journal entry worksheet faitei-erter detita betfore crithts Exercise 5-3 (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. April 2 Purchased 55,5ee of nerchandise from Lyan Company with credit terns of 2/15, n/6e, invoice dated Apri1 2 , and FGe shipping point. Aprit 3 Paid 334s cash fer thipping charges on the Aprit 2 purchase. Aprat 4 Returned to Lyon Coopaty unacceptable merchandise that had an invoice price of ssee. Aprii 17 Sent a check to Lyen Conpany for the Aprili 2 purchase, net of the discount and the returned serchandise. April 18 Purchased \$10, 3ee of merchandise from frist Corporation with credit teras of 1/16, n/3e, involce. dated Aprik 11 After negotiations over scuffed merchandise, received from Frist a sdea allowance toward the s1a, 3be oued April 28 sent check to Irist paying for the Aprit 18 purchase, net of the atlovance and the discount. Journal entry worksheet Exercise 5-3 (Algo) Recording purchases, purchases returns, and purchases allowances LO P1 Prepare joumal entries to record the followhg transactions for a retal store. The company uses a perpetual inventory system and the gross method. April 2 Purchased 15,5e0 of merchandise fron Lyon Corpany with credit teras of 2/15, n/60, invoice dated Aprit 2 . and Fod shipping point. Apr1t 3 Paid 5340 cash for shipping charges on the Apr11 2 purehase. Aprii 4 Returned to Lyon conpany unacceptable nerchandise that had an invoice price of ssea. Apri1, 17 Sent a check to Lyon Compbny for the April 2 purchase, net of the discount and the returned merchandise. Aprit it Purchased 110 , 3ee of nerchandise fron Prist Corporation with credit terns of 1/19, n/36, invoice dated April 18 , and foB destinstion. April 21 After negotiations over scuffed aerchandise, received fron Frist a s4ee allowance toward the s1a,3ee oved on the April is parchase. Aprit 2B Sent check to Frist paying fer the April 18 purchase, net of the allovance and the discount. Journal entry worksheet Sent check to fritet paying for the Agril 18 gurchase, net of the allowance and the discount. Whatel Enter artits befire crudta