Joumalre entres for the folowing rolatad transactians of Lily Heating 5 Alr Company using the not method under a parpetual inventary system. Fafer to the Chart of Accounts for exact warding of account tities. A. Purchased $55,100 of merchandise trom Schell Co, on account, terms 1/10,n30. B. Paid the arrount owed on the imvoice. C. Discovered that merchandise with an imvoice amount of 57,200 purchased in (a) was defoctive and returned items, recelving crest. D. Purchased $6,200 of merchandise from 5chell Co. on account, terms N/30. E. Heceived a retund trom Schell Co. for retum in (C) less the purchase in (D). Joumalre entres for the transactions of Loly Hoating 4 Alr Company. Rofor fo the Chart of Accounts for exact wording of account beles. For grading purposes use Docember 31 as it dete for all transactions