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Prepare journal entries to record the following transactions for a retail store. Assume a periodic inventory system is used. (Round your answers to the nearest
Prepare journal entries to record the following transactions for a retail store. Assume a periodic inventory system is used. (Round your answers to the nearest whole number. Omit the "$" sign in your response.) Apr. 2 Purchased merchandise from Lyon Company under the following terms: $5,600 price, invoice dated April 2, credit terms of 2/15, n/60, and FOB shipping point. 3 Paid $314 for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $550. 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. 18 Purchased merchandise from Frist Corp. under the following terms: $11,650 price, invoice dated April 18, credit terms of 2/10, n/30, and FOB destination. 21 After negotiations, received from Frist a $3,262 allowance on the April 18 purchase. 28 Sent check to Frist paying for the April 18 purchase, net of the discount and allowance. Date General Journal Debit Credit Apr. 2 3 4 17 18 21 28
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