Ivanhoe Stores is a new company that started operations on March $1,2024.$ The company has decided to use a perpetual inventory system. The following purchase transactions occurred in March:

Ivanhoe Stores purchases $$9,300$ of merchandise for resale from Octagon Wholesalers, terms $2/10,$ n$/30,$ FOB shipping

Mar.

$1$

$2$

$21$

point.

The correct company pays $$145$ for the shipping charges.

Ivanhoe returns $$1,000$ of the merchandise purchased on March $1$ because it was the wrong colour. Octagon gives Ivanhoe a $$1,000$ credit on its account.

Ivanhoe Stores purchases an additional $$12,500$ of merchandise for resale from Octagon Wholesalers, terms $2/10,$ n$/30,$ FOB destination.

$22$

$23$

$30$

The correct company pays $$165$ for freight charges.

Ivanhoe returns $$350$ of the merchandise purchased on March $21$ because it was damaged. Octagon gives Ivanhoe a $$350$ credit on its account.

Ivanhoe paid Octagon the amount owing for the merchandise purchased on March $1.$

$31$

Ivanhoe paid Octagon the amount owing for the merchandise purchased on March $21.$

Prepare Ivanhoe Stores' journal entries to record the above transactions. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.

Record journal entries in the order presented in the problem. List all debit entries before credit entries.$)$