Journal Entries for Purchase, Return, and Remittance-Periodic System On March 10, Horne Company purchased $21,000 worth of merchandise from James Company, terms 1/10, n/30. On March 12, Horne paid $300 freight on the shipment. On March 15, Home returned $300 of merchandise for credit. Final payment was made to james on March 19. Horne Company uses the periodic inventory system Required Prepare the journal entries that Homme should make on March 10, March 12, March 15, and March 19. Date Mar 10 12 GENERAL JOURNAL Description Purchase of marchande from James Company terms 1/10, 30 Paid freight on James Com 15 Returned goods to James Company Cash Paid james Company amount due Debit Credit