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Prepare journal entries to record the following transactions of Recycled Fashion retail store. Recycled Fashion uses a perpetual inventory system and the gross method. March

Prepare journal entries to record the following transactions of Recycled Fashion retail store. Recycled Fashion uses a perpetual inventory system and the gross method. March 3 Purchased $1,150 of merchandise from GreenWorld Company with credit terms of 2/15, n/60, invoice dated March 3, and FOB shipping point. March 4 Paid $75 cash for shipping charges on the March 3 purchase. March 5 Returned to GreenWorld unacceptable merchandise that had an invoice price of $150. March 18 Paid GreenWorld for the March 3 purchase, net of the discount and the returned merchandise. March 19 Purchased $425 of merchandise from PeopleFirst Corporation with credit terms of 1/10, n/30, invoice dated March 19, and FOB destination. March 21 After negotiations, received from People

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