Hayes Jewelry uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary transactions. Explanations are not required.

Could you explain why my answer was wrong and explain how did they get that answer please?

= Homework Save More Info bnations are not required. Hayes Jewelers uses a (Click the icon to vie Date Jul. 16 Mercha Jun. 20 Purchased inventory of $5,300 on account from Surry Diamonds, a jewelry importer. Terms were 2/15, n/45, FOB shipping point. Jun. 20 Paid freight charges, $400. Jul. 4 Returned $700 of inventory to Surry. Jul. 14 Paid Surry Diamonds, less return. Jul. 16 Purchased inventory of $3,800 on account from Swift Diamonds, a jewelry importer. Terms were 1/10, n/EOM, FOB destination. Jul. 18 Received a $600 allowance from Swift Diamonds for damaged but usable goods. Jul. 24 Paid Swift Diamonds, less allowance and discount. Acc Jul. 18: Received a $600 Date Jul. 18 Accoun Mer Print Done Jul. 24: Paid Swift Diamonds, less allowance and discount. Date Accounts Debit Credit Jul. 24 Accounts Payable-Swift Diamonds 3,200 Cash 3,168 Merchandise Inventory You answered: 3136 Get answer feedback