O Requirement 1. Journalize these transactions on the books of Wholesale Furnishings, assuming the "net" method is used. (Record debits first, then credits. Exclude explanations from any journal entries.) Jul 4: Wholesale Furnishings purchased $11,000 of merchandise from E and S Furniture Warehouse on account. Terms, 3/15, n/30, FOB shipping point. The goods cost E and S Furniture Warehouse $2,900. Journal Entry Jul Date Jul 4 Date Accounts Jul 7: Wholesale Furnishings paid a $225 freight bill for delivery of the goods purchased on July 4. Journal Entry 7 Debit Accounts Credit Debit Credit Jul 10: Wholesale Furnishings returned $1,000 of the merchandise purchased on July 4. The goods cost E and S Furniture Warehouse $400. Time Remaining: 01:18:55 Next