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Prepare journal entries to record the following transactions of Recycled Pashion retafl stope. Recysien. Fashion uses a perpetual inventory system and the gross method. Mar.

Prepare journal entries to record the following transactions of Recycled Pashion retafl stope. Recysien. Fashion uses a perpetual inventory system and the gross method.
Mar. 3 Purchased $1,150 of merchundise from Green World Company with oredit vermas of 215, we/ts. invaice dated March 3, and FOB shipping point.
4 Prid $75 cash for shipping charges on the March 3 purthase.
5 Relurned la GreenWorld unacceptable merchundise that had an invoice price of $150.
18 Paid Green World for the March 3 purchase, net of the discount and she refurned merchandise
Purchased $425 of merchandise from PeopleFirst Cokp. with credit terms of 110,n30, is. voice dated March 19, and FOB destination.
21 After negotations, received from People Eir ist a $25 allowaice (for scuffed merchandise) rowand the $425 owed on the March 19 purchase.
29 Seut check to PeopleFirst paying for the March 19 purchaise, net of the allowance and che dismume
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