Journal entry worksheet 7 Purchased $5,200 of merchandise from Lyon Company with credit terms of 2/15,n/60, invoice dated April 2, and FOB shipping point. Note: Enter debits before credits. Journal entry worksheet Purchased $11,100 of merchandise from Frist Corporation with credit terms of 1/10,n/30, invoice dated April 18 , and FOB destination. Note: Enter debits before credits. Journal entry worksheet Returned to Lyon Company unacceptable merchandise that had an invoice price of $750. Note: Enter debits before credits. Journal entry worksheet After negotiations over scuffed merchandise, received from Frist a $400 allowance toward the $11,100 owed on the April 18 purchase. Note: Enter debits before credits. Journal entry worksheet 67 Paid \$291 cash for shipping charges on the April 2 purchase. Note: Enter debits before credits. Prepare journal entries to record each of the following merchandising transactions assuming that the buyer uses the periodic inventory system and the gross method. April 2 Purchased $5,200 of merchandise fron Lyon Company with credit teras of 2/15,n/60, invoice dated April 2 , and FOB shipping point. April 3 Paid $291 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an involice price of $750. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. April 18 Purchased $11,100 of merchandise from Frist Corporation with credit terns of 1/10, n/3e, invoice dated April 18, and FOB destination. April 21 After negotiations over seuffed merchandise, received from Frist a 5400 allowance toward the $11,100 awed on the April 18 purchase. April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. Journal entry worksheet Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. Note: Enter debits before credits. Journal entry worksheet Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. Note: Enter debits before credits