Prepare journal entries to record each of the following merchandising transactions assuming that the buyer uses the periodicinventory system and the gross method. April 2 Purchosed $4,600 of merchandise from Lyon Company with credit terms of 2/25,n/60, invoice dated April 2 , and FOB shipping point. April 3 Paid $300 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable nerchandise that had an invoice price of $600. April 17 Sent a check to Lyon Company for the April 2 porchase, net of the discount and the returned nerchandise, April 18 Purchased $8,500 of merchandise from Frist corporation with credit terms of 1/10, n/3, involce dated April April 21 After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,500 owed on the April 18 purchase. April 28 Sent check to Frist paying for the Aprit 18 purchase, net of the allowance and the discount. Journal entry worksheet 567 Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15,n/60, invoice dated April 2 , and FOB shipping point. Note: Enter debits befort cledis