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 $7,000 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2 and FOB shipping point. April 3 Paid $392 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $800. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. April 18 Purchased $14,700 of merchandise from Frist Corporation with credit terms of 1/1e, n/30, invoice dated April 18, and FOB destination. April 21 After negotiations over scuffed merchandise, received from Frist a $5ee allowance toward the $14,7ee 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. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Purchased $7,000 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. Note: Enter debits before credits Date General Journal Debit Credit Apr 02 Record entry Clear entry View general journal 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 $7,000 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. April 3 Paid $392 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $800. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. April 18 Purchased $14,790 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination. April 21 After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $14,700 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. View transaction list Journal entry worksheet Paid $392 cash for shipping charges on the April 2 purchase. Note: Enter debits before credits. Date General Journal Debit Credit Apr 03 Record entry Clear entry View general journal 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 $7,8ee of merchandise from Lyon Company with credit terms of 2/15, n/50, invoice dated April 2, and FOB shipping point. April 3 paid $392 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $800. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise April 18 Purchased $14,780 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated April 18, and Foe destination April 21 After negotiations over scuffed merchandise, received from Frist a $see allowance toward the $14,7ee 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. View transaction list Journal entry worksheet 2. 3 4 5 6 7 > Returned to Lyon Company unacceptable merchandise that had an invoice price of $800. Note: Enter debits before credits Date General Journal Debit Credit Apr 04 Record entry Clear entry View general journal 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 $7,000 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. April 3 Paid $392 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $800. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise April 18 Purchased $14,708 of merchandise from Frist Corporation with credit terms of 1/10, n/39, invoice dated April 18, and FOB destination. April 21 After negotiations over scuffed merchandise, received from Frist a $see allowance toward the $14,79e 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. View transaction list Journal entry worksheet 2 3 4 5 6 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. Note: Enter debits before credits. Date General Journal Debit Credit Apr 17 Record entry Clear entry View general journal 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 $7,eee of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and HB shipping point. April 3 Paid $392 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $80e. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise April 18 Purchased $14,708 of merchandise from Frist Corporation with credit terms of 1/10, n/3e, invoice dated April 18, and FOB destination. April 21 After negotiations over scuffed merchandise, received from Frist a $see allowance toward the $14,7ee 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. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 > Purchased $14.700 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination. Note: Enter debits before credits Date General Journal Debit Credit Apr 18 Record entry Clear entry View general journal 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 $7,000 of merchandise from Lyon company with credit terms of 2/15, n/be, invoice dated April 2 and FOB shipping point. April 3 Paid $392 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $800. April 17 Sent a check to Lyon company for the April 2 purchase, net of the discount and the returned merchandise. April 18 Purchased $14,700 of merchandise from frist Corporation with credit terms of 1/10, n/3e, invoice dated April 18, and foe destination. April 21 After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $14, zee 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. View transaction list Journal entry worksheet 2 3 4 5 6 7 After negotiations over scuffed merchandise, received from Frist a 5500 allowance toward the $14,700 owed on the April 18 purchase. Note: Enter debits before credits General Journal Debit Date Credit Apr 21 Record entry Clear entry View general journal 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 $7,8ee of merchandise from Lyon Company with credit terms of 2/15, n/6e, invoice dated April 2 and FOB shipping point. April 3 Paid $392 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $8ee. April 17 sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. April 18 Purchased $14,700 of merchandise from Frist Corporation with credit terms of 1/10, n/3e, invoice dated April 18, and F08 destination. April 21 After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $14, vee 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. View transaction list Journal entry worksheet 2 3 4 5 6 7 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. Note: Enter debits before credits. Date General Journal Debit Credit Apr 28 Record entry Clear entry View general journal