Exercise 6-47 Recording Purchases and Shipping Terms On May 12, Digital Distributors received three shipments of merchandise. The first was shipped F.O.B. shipping point, had a total invoice price of $142,500, and was delivered by a trucking company that charged an additional $8,300 for transportation charges from Digital. The second was shipped F.O.B. shipping point and had a total invoice price of $87,250, including transportation charges of $5,700 that were prepaid by the seller. The third shipment was shipped F.O.B. destination and had an invoice price of $21,650, excluding transportation charges of $1,125 paid by the seller. Digital uses a perpetual inventory system. Digital has not paid any of the invoices. Required: Prepare journal entries to record these purchases. Journalize the entries to record the first shipment and transportation charges, if required. May 12 (Purchased inventory on account) May 12 - (Paid shipping costs, if required) Journalize the entries to record the second shipment and transportation charges, if required. If no entry is required, select "No entry required" and leave the amount boxes blank. May 12 - May 12 - (Purchased inventory on account) May 12 (Paid shipping costs, if required) Journalize the entries to record the third shipment and transportation charges, if required. If no entry is required, select "No entry required" and leave the amount boxes blank. May 12 (Purchased inventory on account) May 12 (Paid shipping costs, if required) Journalize the entries to record the first shipment and transportation charges, if required. May 12 ount) Accounting numeric field Accounts Payable Accounts Receivable Cost of Goods Sold May 12 Inventory required) No entry required Sales Revenue Journalizl d the second shipment and transportation charges, if required. 1 May 12 (Purchased inventory on account) May 12 Accounts Payable required) Accounts Receivable Cash Journaliz d the second shipment and transportati May 12 Inventory No entry required in account) Transportation-in May 12