Prepare journal enties to record the following merchandising transactions of Lowe's, which uses the perpefual inventory system and the gross method. Hint it wil help to identify each receivable and payable; for example, record the purchase on August 1 in Accounts Payable-Aron. dated kaguat, 1. Augent 5. Fee werehandise had eont 54, 099 , invosee dated Auguat P. 7. Paid \$27p cash for ehipping ebarges related to the huguat 5 alle to Baizd cerp. 10. Balrd returned merchandise from the August 5 sale that had eoet Lowe'd s500 and was iold tor 11 , 000 . the nerchandise vas restored to imventary. (aecouats payable) to Mrot. 15 Received balaned dan Eros Balrd Carp. for thei Mapust. 5 sale lean the return on Auguat 10. The nerehandine hed cost $3,709. 22 Tux requested a peice reduetion be the Aigust 17 nale becasae tbe nerchandsan did not neet speeificatident mosent. 30. Paid Mros Company the amoyet due froe the Nagut 1 purchase. Journal entry worksheet 2345678+16 Purchased merchandise frum Aron Company for 49,000 under credic tems of 1/10, N30, FOB destination, invoice dated August 1. twotei Enter tebata teive reed to. Journal entry worksheet Sold merchandise to Baird Corp. for $6,300 under credit terms of 2/10,n/60, FOB destination, invoice dated August 5. Note: Enter debits before credits. Journal entry worksheet Record cost of merchandise sold, $4,000. Note: Enter debits before credits. Journal entry worksheet