Problem 3 Journal entries periodic method use T accounts if easier - read carefully 3/1) Sold merchandise on credit 2/10, net 60 day - $ 400 3/3) Purchased merchandise on credit 2/10, net 30 days - $ 12,800 3/4) Paid $ 900 freight charge 3/6) Sold merchandise for cash $ 1100 3/7) Sold merchandise on credit 2/10, net 60 days - $ 2,400 3/9) Purchased merchandise on credit 1/10, net 30 days - $ 6,180 including $200 of freight 3/10) Sold merchandise on credit 2/10, net 20 days - $ 4,400 3/10) Received a check for the sale of March 1 3/11) Purchased merchandise on credit 2/10, net30 days $ 16,400 3/12) Received freight charge bill of $ 1,460 3/13) Paid the bill of 3/3 3/14) Returned $ 580 of the merchandise purchased on 3/9 3/16) Received $ 400 of the merchandise back from from 3/10 sale 3/17) Received half payment from 3/7 sale - gave partial discount based on cash received 3/18) Paid the balance of the bill of 3/9 sale less the 3/14 return 3/21) Paid the freight charge of 3/12 3/23) Purchased cleaning supplies $ 500 3/24) Returned $ 100 of cleaning supplies ordered the day before 3/25) Sold merchandise for cash $ 1,600 3/27) Paid the 3/23 purchase less the 3/24 return 3/29) Received payment for the 3/10 sales less the credit of 3/16 3/29) Paid for the merchandise of 3/11 less the allowance of 3/20 3/31) Received payment for the sale of 3/7 less the partial payment of 3/17