March 4	Stephen Company sold $3,000 of merchandise on account to Elijah Company. The credit terms were 2/10, n/60. The cost of the merchandise was $1,800.
March 6	Elijah Company paid transportation cost of $100 on the March 4 purchase from Stephen Company.
March 8	Stephen Company sold $2,000 of merchandise on account to Elijah Company. The credit terms were n/40. The cost of the merchandise was $1,400.
March 10	Stephen Company paid transportation cost of $100 for delivery of merchandise sold to Elijah Company on March 8.
March 16	Stephen Company issued Elijah Company a $400 credit memorandum for merchandise returned because the merchandise was damaged. The merchandise was purchased by Elijah Company on account on March 8. The cost of the merchandise returned was $280.
March 18	Stephen Company received payment from Elijah Company for purchase of March 8.
March 21	Stephen Company sold $4,800 of merchandise on account to Elijah Company. The credit terms were 2/10, n/30. The cost of the merchandise was $2,880.
March 22	Stephen Company received payment from Elijah Company for purchase of 4 March.
March 31	Stephen Company received payment from Elijah Company for purchase of 21 March.

Required:

1.

Prepare all necessary journal entries to record the transactions for Stephen Company. Assume that Stephen Company used perpetual inventory system (Narratives are not required).

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