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Instructions: Journalize the following purchase related transactions: a. Jingle Co. purchased $4,000 worth of merchandise on account, terms 2/10,n/30 FOB shipping point. Prepaid transportation charges

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Instructions: Journalize the following purchase related transactions: a. Jingle Co. purchased $4,000 worth of merchandise on account, terms 2/10,n/30 FOB shipping point. Prepaid transportation charges of $200 were added to the invoice. b. Returned $500 of merchandise purchased in (a). c. Paid on account for purchases in (a), less return (b) and discount

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