Haynes Jewelers uses a perpetual inventory system and had the following purchase transactions. Journalize all necessary transactions. Explanations are not required. i (Click the icon to view the transactions.) Jul. 16: Purchased inventory of $4,400 on account from Sugarman Diamonds, a jewelry importer. Terms were 1/10, n/EOM, FOB destination. Date Accounts Debit Credit More Info - X Jul. 16 Merchandise Inventory 4,400 Accounts Payable 4,400 Jun. Jul. 18: Received a $600 allowance from Sugarman for damaged but usable goods. Jul. Date Accounts Debit Credit 20 Purchased inventory of $5,100 on account from Sik Diamonds, a jewelry importer. Terms were 1/15, n/45, FOB shipping point. 20 Paid freight charges, $300. 4 Returned $700 of inventory to Silk. 14 Paid Silk Diamonds, less return. 16 Purchased inventory of $4,400 on account from Sugarman Diamonds, a jewelry importer. Terms were 1/10, n/EOM, FOB destination. 18 Received a $600 allowance from Sugarman for damaged but usable goods. 24 Paid Sugarman Diamonds, less allowance and discount. Jul. 18 600 Accounts Payable Merchandise Inventory 600 Jul. 24: Paid Sugarman Diamonds, less allowance and discount. Print Done Date Accounts Debit Credit Jul. 24 Accounts Payable 3,800 Cash 3724 76 Merchandise Inventory