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I need help with this accounting problem. Thank you for your help in advance! 2. Inventory Transactions The Journal Company has provided you with the

I need help with this accounting problem. Thank you for your help in advance!

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2. Inventory Transactions The Journal Company has provided you with the following inventory transactions: Oct 1 Journal Company purchased 2,500 red blankets from Warmm Vendor with the following terms 2/10, n/30 FOB destination, and unit price is $26 Received freight bill for Oct 1 transaction, $600 and paid Returned 200 blankets from Oct 1 transactior Paid the amount due to Warm Vendor Sold 1,700 blankets to City Customer, terms 2/10, n/30, FOB Shipping Point, selling price is $58 Citv Customer paid total amount owed Journal Company purchased 1,900 red blankets from Warmm Vendor with the following terms 2/10, n/30 FOB shipping Oct 3 Oct 5 Oct 9 Oct 12 Oct 22 Oct 21 oint, unit price is $26 Received freight bill for Oct 21 transaction, $700 and paid Oct 23 Required A. Prepare all of the necessary journal entries B. Summarize your data and prepare the partial income statement

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