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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

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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 $3,400 of merchandise from Lyon Company with credit terms of 2/15, n/60/ invoice dated April 2, and FOB shipping point. 3 Paid $280 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $650. 17 Sent a check to Lyon Company for the April 2 purchase, ne of the discount and the returned merchandise. 18 Purchased $6,100 of merchandise from Prist Corp. with credit terms of 1/10, n/30, Invoice dated April 18, and FOB destination. 21 After negotiations, received from Prist a $400 allowance toward the $6,100 owed on the April 18 purchase. 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. ces View transaction list Journal entry worksheet 1 2 3 5 6 7 Purchased $3,400 of merchandise from Lyon Company with credit terms of 2/15, 1/60, Invoice dated April 2, and FOB shipping point. Note: Enter debits before credits Sent a check to Lyon Company for the April Purchased $6,100 of merchandise from Frist FOB destination. 1 After negotiations, received from Frist a $4 8 Sent check to Frist paying for the April 18 p ew transaction list Journal entry worksheet

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