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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 Mar.

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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 Mar. 3 Purchased 51,180 of merchandise made from recycled material from Greenior la company with credit terms of 2/15, 1/60 invoice dated March 3, and POS shipping point. 4 Paid 590 cash for shipping charges on the March ) purchase. 5 Returned to Greenborld unacceptable merchandise that had an invoice price of $130. 18 Paid Greenworld for the March 3 purchase, net of the discount and the returned merchandise 19 Purchased 5540 of fair trade merchandise from PeopleFirst Corp, with credit terus of 1/10, 1/30, Invoice dated March 19, and FOB destination 21 After negotiations, received from PeopleFirsta $40 allowance (for scuffed merchandise) toward the $540 Owed on the March 19 purchase. 29 Sent check to PeopleFirst paying for the Harch 19 purchase, net of the allowance and the discount. pped Bool Hint Journal entry worksheet

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