Prepare the journal entries to record the above trans

The following information was presented by the bookkeeper for NorthWave Communications for the month of October 2019. Oct 8 Purchased $234,300 of inventory on account from Beta Wholesalers, FOB shipping point, terms 2/10, net 30. Oct 8 NorthWave paid $180 cash to have the merchandise from Beta Wholesalers delivered. Oct 10 A portion of the inventory purchased from Beta Wholesalers was defective. NorthWave returned $410 worth of inventory to the supplier. Oct 12 Sold $101,800 of products to SouthShore on account, FOB destination, terms 2/10, net 30; cost of goods sold was $40,720 for this transaction. Oct 12 Paid $100 cash to ship the goods to SouthShore. Oct 14 SouthShore returned $2,036 of goods purchased on account. The cost of goods sold for the returned inventory is $1,222. Oct 17 Purchased goods from EastCoast Trading Communications on account for $19,900 with terms of 3/10, net 30. Oct Some of the inventory purchased from EastCoast Trading Communications was slightly damaged. NorthWave decided to keep the inventory, but 18 will receive a $420 allowance. Oct 19 Sold $45,000 of products to West Island on account, terms 2/10, net 30; cost of goods sold was $18,000 for this transaction. Oct West Island discovered some scratches on some of the products they purchased on Oct 19. They will keep the product and NorthWave will offer a 20 $310 allowance. Oct 24 Received payment from West Island. Remember to account for the allowance and discount. Oct 25 Paid the amount owing to EastCoast Trading Communications Remember to account for the allowance and discount. Oct 31 A count of inventory shows that $750 is missing. Make a journal entry to record the inventory shrinkage. Required Prepare the journal entries t uses t