prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method.

Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory system and the gross method. Apr. 2 Purchased $6,500 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and TOB shipping point. 3 Paid $310 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $750. 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. 18 Purchased $12,300 of merchandise from Trist Corp. vith credit terms of 1/10, n/30, Invoice dated April 18, and FOB destination. 21 After negotiations, received from Prist a $500 allowance toward the $12,300 owed on the April 18 purchase. 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 Debit Credit 1 Apr 02 Merchandise inventory Accounts payable-Lyon 6,500 6,500 2 Apr 03 Merchandise inventory Cash 310 310 3 Apr 04 Accounts payable-Lyon Merchandise inventory 750 750 4 Apr 17 Accounts payable-Lyon Merchandise inventory Cash 5 Apr 18 Merchandise inventory Accounts payable-Frist 12,300 12,300 6 Apr 21 Accounts payable-Frist Merchandise inventory 500 500 7 Apr 28 Accounts payable-Frist Merchandise inventory Cash