Prepare journal entries to record each of the following merchandising transactions assuming that the buyer uses the periodic inventory system and the gross method.

April $2$ Purchased $$4,300$ of merchandise from Lyon Company with credit terms of $\frac{2}{15},$ n$/60,$ invoice dated April $2,$ and FOB shipping point.

April $3$ Paid $$241$ cash for shipping charges on the April $2$ purchase.

April $4$ Returned to Lyon Company unacceptable merchandise that had an invoice price of $$500.$

April $17$ Sent a check to Lyon Company for the April $2$ purchase, net of the discount and the returned merchandise.

April $18$ Purchased $$9,300$ of merchandise from Frist Corporation with credit terms of $\frac{1}{10},\frac{n}{30},$ invoice dated April $18,$ and FOB destination.

April $21$ After negotiations over scuffed merchandise, received from Frist a $$600$ allowance toward the $$9,300$ owed on the April $18$ purchase.:

April $28$ Sent check to Frist paying for the April $18$ purchase, net of the allowance and the discount.

Journal entry worksheet

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$2$

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$7$

Purchased $$4,300$ of merchandise from Lyon Company with credit terms of $\frac{2}{15},\frac{n}{60},$ invoice dated April $2,$ and FOB shipping point.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$April $02,,,],[,,,],[,,,],[,,,],[,,,],[,,,]]$

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