Prepare the journal entry to record the April 10 payment to Reece Company by Jeet. For those boxes in which no entry is required, leave the box blank.

account payble(debit) 5500

cash(credit)=?

inventory(credit)=?

I Top4Mast Pmerful COL X \\ D NelsonBrain -Login or R X \\- My Quatians |Tutors|I X \\ D Nelsoanin-My Home X / ':-' CengageNDWvZ | O /\\ x '\\_ (- C I G) v2.cengagenow.com,v'llrng'takeAsslghmentg'takeAsslgnmentMaIn.do?lnyoker:assignmenlsSLlakeAsslgnmentSesslonLocalor=assignment-talce ::: Apps .- My Accounlrvirgin D Harry Potter 1 Hindi [ Chapter 6 Homework Assignment 1', MCEXDEVTU " 2. CE.0618.Algu I 3. GEES-24 l d. BEDS-29 " 5. BE.US-35.Algp ' 6, I T. 3.06749 1 B. EX.06-56 I E, PRUEVSSA . TU. PRUS-TlBAlgU I 9300K Vldeo Calculator Cornerstone Exercise 6-18 (Algorithmic) Recordlng Purchase Transactions Jeet Company and Reece Company use the perpetual inventory system. The following transactlons occurred during the month of April. a. On April 1, Jeet Company purchased merchandlse on account from Reece Company wlth credit terms of 2f10, nf30. The selling price of the merchandlse was $6,500, and the cost ofthe merchandlse sold was $2,450. b. On April 1, Jeet pald freight charges of $100 cash to have the goods delivered to lts warehouse. c. On April 8, Jeet returned $1,000 ofthe merchandise whlch had orlginally cost Reece $700. d. On April 10, Jeet pald Reece the balance due. Required: 1. Prepare the journal entries to record the Aprll 1 purchase (ignore any freight charges] of merchandlse py Jeet Company. AW 1 Inventory 1 g Accounts Payable l: ,1 (Purchased lnventury on account} Feed hack Prepare the journal entry to record the payment of freight on Aprll l. Apnl 1 Inventory 3! J m (Recorded the payment of frelght charges] Feed hack Check MyWorlc