Exercise 5-3 Recording purchases, purchases returns, and purchases allowances LO P1 repare Journal entries to record the following transactions for a retail store. The company uses a perpetual Inventory system and me TOSS method ar Purchased 56,70 of merchandise from Lyon Company with credit terus of 2/15, 0, Invoice dated for 12, and to speak point Pata 5210 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an wie price of 5700 2 Sent check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise 18 Purchased $12.700 of merchandise from Frint Corp. with credit terms of 1/10, / inweice dated April 18, and on destination 2 After negotiations received from Frist see allowance toward the $12.700 do the oral purchase 28 sent check terkt paying for the Apel 18 purchasernet of the allowance and the discount View onlist Journal entry worksheet > 2 3 4 Purchase 56.700 of merchandise from Lyon Company with credit terms of Invoice dated April 2 and Fesh ppi point Ebert Debe dit Genoma