merchandise purchased Sold merchandise on credit to Lacson Co., terms n/30, FOB shipping Purchased merchandise on credit from Orcajada Co., terms 1/30, Purchased merchandise on credit from Ortiz Co., terms n/30, FOB 358 | Basic Financial Accounting and Reporting by Prof. WIN Ballada NAME: SCORE: SECTION: PROFESSOR: Problem #13 Journalizing Merchandising Transactions Lenore Loqueque Homewares engaged in the following transactions in October Oct. 7 point, P30,00 8 FOB shipping point, P60,000. 9 Paid Mendoza Co. for shipping charges on on Oct. 8, P2,540. 10 shipping, P90,000. Freight prepaid by Ortiz, P6,000. 13 Purchased office supplies on credit from Isagan Co., terms 1/10. P24,000 14 Sold merchandise on credit to Pabelico Co., terms n/30, FOR shipping, P24,000. 14 Returned damaged merchandise received from Orcajada Co. on Oct. 8 for credit, P6,000. 17 Received check payment from Lacson Co. for his purchase on Oct. 7. 18 Returned a portion of the office supplies received on Oct. 13 for credit, P4,000. 19 Sold merchandise for cash, P18,000. 20 Paid Ortiz Co. for purchase of Oct. 10. 21 Paid Orcajada Co. the balance from the transaction on Oct. 8 and 14. 24 Accepted from Pabelico Co. a return of merchandise, P2,000. Required: Prepare the journal entries