Periodic Inventory System

the following selected transactions were completed by Air System Company during January of the current year. Air System Company uses the periodic inventory system.

Jan.2. Purchased $18200 of merchandise on account, FOB shipping point, terms 2/15,n/30.

5. Paid freight of $190 on the January 2 purchase.

6. Returned $2,750 of the merchandise purchased on January 2.

13. Sold merchandise on account, $ 37,300, FOB destination 1/10, n/30. The cost of merchandise sold was $22,400.

15. Paid freight of $ 215. for the merchandise sold on January 13.

17. Paid for the purchase of January 2 less the return and discount.

23. Received patment on account for the sale of January 13 less the discount

2. Journalize the entries to record the transactions of Air Systems Company.