Problem 5.1 Buying merchandise Prepare journal entries to record the following transactions for a retail store. Assume a perpetual inventory system. No descriptions required. Tip: Do not leave blank lines and don't forget to indent the "eredit" lines. a) April 2 Purchased merchandise from Johns Company under the following terms: 55,900 price, invoice dated April 2. credit terms of 2/15, n/60, and FOB shipping point April 3 Paid $330 for shipping charges on the April 2 purchase. April 4 Returned to Johns Company unacceptable merchandise that had an invoice price of $900. April 17 Sent a check to Johns Company for the April 2 purchase, net of the discount and the returned merchandise Date Accounts Debits Credits b) April 18 Purchased merchandise from William Corp. under the following terms: $12,250 price, invoice dated April 18, credit terms of 2/10, 1/30, and FOB destination April 21 After negotiations, received from William a $3,250 allowance on the April 18 purchase. April 28 Sent check to William paying for the April 18 purchase, net of the discount and allowance