Prepare General Journal entries to record the following perpetual system merchandising transactions of On Display. Use a separate account for each receivable and payable. Oct 14 Purchased merchandise from Brookfield Group for $24,400 under credit terms of 2/15, n/45, FOB shipping point 16 Paid $525 for freight charges on the October 14 purchase. 19 Received a $1,600 credit memorandum from Brookfield Group acknowledging the return of merchandise purchased on October 14 29 Paid Brookfield the amount due for the October 14 purchase. t Answer Toolbar navigation B IVS E 3 11 A A