Mathis Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of April: a. On April 1, Mathis purchased merchandise on account from Reece with credit terms of 2/10, n/30. The selling price of the merchandise was $3,100, and the cost of the merchandise sold was $2,225. b. On April 1, Mathis paid freight charges of $250 cash to have the goods delivered to its warehouse. c. On April 8, Mathis returned $800 of the merchandise which had originally cost Reece $500. d. On April 10, Mathis paid Reece the balance due. Required: Prepare the journal entries to record these transactions on Reece's books. Assume that Reece uses the net method to record sales on account. For a compound transaction, if an amount box does not require an entry, leave it blank. April 1 (Recorded sale on account) April 1 April 1 (Recorded cost of merchandise sold) April 8 (Recorded return of merchandise) April 8 April 8 - (Recorded cost of merchandise returned) April 10 (Received customer payment within discount period) Mathis Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of April: a. On April 1, Mathis purchased merchandise on account from Reece with credit terms of 2/10, n/30. The selling price of the merchandise was $3,100, and th cost of the merchandise sold was $2,225. b. On April 1, Mathis paid freight charges of $250 cash to have the goods delivered to its warehouse. c. On April 8, Mathis returned $800 of the merchandise which had originally cost Reece $500. d. On April 10, Mathis paid Reece the balance due. Required: Prepare the journal entry to record the April 1 purchase of merchandise and payment of freight by Mathis. April 1 (Purchased inventory on account) April 1 (Recorded the payment of freight charges) Prepare the journal entry to record the April 8 return of merchandise April 8 (Returned merchandise) Prepare the journal entry to record the April 10 payment to Reece. For a compound transaction, if an amount box does not require an entry, leave it blank April 10 (Paid accounts payable within discount period)