Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. April 2 Purchased $3,600 of merchandise from Lyon Company with credit terms of 2/15, 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 merchandise that had an invoice price of $650. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. April 18 Purchased $6,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated April 18, and rob destination. April 21 After negotiations over scuffed merchandise, received from Frist a $400 allowance toward the $6,500 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 View journal entry worksheet No Date General Journal 1 Apr 02 Merchandise inventory Debit Credit 3,600 Accounts payable-Lyon 3,600 2 Apr 03 Merchandise Inventory Cash 300 300 3 Apr 04 Accounts payable-Lyon 650 Merchandise inventory 650 4 Apr 17 Accounts payable-Lyon Merchandise inventory Cash