Prepare journal entries to record the following merchandising transactions of Lowe's, which uses the perpetual inventory system and the gross method. Augunt 1 purchased merchahdise fron Aron Comphny tor 56,000 ander eredit termil of 1/10, n/30, ros destination, invoice dated Anguat 1 . datend kugust 5 . The merchandine had cost 53,000 . invosee dated August 8 . Auguat, Dald 5120 eaik for mipping chargea related to the Muguat 5 sale to Balrd corporation. nerchandine was rentored to inventory. oved (aceounts paysble) to hros. Auguat is. The vacehandise had cost is, 1,800 . August as Paid Aren Company the anount due fron the Aupuat a purchase. Journal entry worksheet