P5-2A. Journal Entries for Merchandise Transactions--Perpetual System Rockford Corporation, which began business on August 1, sells on terms of 2/10, n/30. Credit terms for its purchases vary with the supplier. Selected transactions for August are given below. Unless noted, all transactions are on account and involve merchandise held for resale. The perpetual inventory system is used, Aug. 1 Purchased merchandise from Norris, Inc., $4,000, terms 2/10,n/30. 5 Paid freight on shipment from Norris, Inc., $220. 7 Sold merchandise to Denton Corporation, $5,500 (54,100 cost). 7 Paid $300 freight on August 7 shipment and billed Denton for the charges. 9 Returned $800 worth of the merchandise purchased August 1 from Norris, Inc., because it was defective. Norris approved the retum. 9 Received $750 of returned merchandise ($500 cost) from Denton Corporation. Rockford approved the retum. 10 Paid Norris, Inc., the amount duc. 14 Purchased from Chambers, Inc., goods with a price of $9,000. Terms 1/10./30. 15 Paid freight on shipment from Chambers, Inc., $320. 17 Received the amount due from Denton Corporation, 18 Sold merchandise to Weber, Inc. $9.600 (S6,600 cost). 20 Paid $350 freight on August 18 shipment and billed Weber for the charges. 24 Paid Chambers, Inc., the amount due. 28 Received the amount due from Weber, Inc. Required Prepare journal entries for these transactions for Rockford Corporation. 63 TRY 4.21 Trash (Example 2) The table shows the number of people living in a house and the weight of trash (in pounds) at the curb just before trash pickup. People Trash (pounds) 2 18 3 33 6 93 1 23 r: 7 83 h the a. Find the correlation between these numbers by using a computer or a statistical calculator. b. Suppose some of the weight was from the container (each container weighs 3 pounds). Subtract 3 pounds from each weight, and find the new correlation with the number of people. What happens to the corre- lation when a constant is added (we added negative 3) to each number? c. Suppose each house contained exactly twice the number of people, but the weight of the trash was the same. What happens to the correlation when numbers are multiplied by a constant