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Prepare journal entries for Houston Sound (the purchaser) for the following transactions: August 25. Houston Sound purchased various items at a purchase price of: 3

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Prepare journal entries for Houston Sound (the purchaser) for the following transactions: August 25. Houston Sound purchased various items at a purchase price of: 3 XYZ's (the seller) cost for the items purchased was: 36 Purchase terms are 2/10,n/30(2 points). September 1. Houston Sound returned the following amount of inventory to XYZ: $20,000 XYZ 's cost of the inventory that was returned was: \$. 12,600(2 pounts). September 3. Houston Sound paid foe the following amount of the inventory: $ 44,000(3 points) September 19. Houston Sound paid for the following amount of the inventory: $ 36,000 (2 points)

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