Problem 8-3 Some of the transactions of Ayayai Company during August are listed below. Ayayai uses the periodic inventory method. August 10 Purchased merchandise on account, $13,000, terms 2/10, n/30. 13 Returned part of the purchase of August 10, $1,300, and received credit on account. 15 Purchased merchandise on account, $17,800, terms 1/10, n/60. 25 Purchased merchandise on account, $21,900, terms 2/10, n/30. 28 Paid invoice of August 15 in full. Correct answer. Your answer is correct. Assuming that purchases are recorded at gross amounts and that discounts are to be recorded when taken: Prepare general journal entries to record the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Entry field with correct answer Entry field with correct answer Purchases Entry field with correct answer 13000 Entry field with correct answer Entry field with correct answer Accounts Payable Entry field with correct answer Entry field with correct answer 13000 Entry field with correct answer Entry field with correct answer Accounts Payable Entry field with correct answer 1300 Entry field with correct answer Entry field with correct answer Purchase Returns and Allowances Entry field with correct answer Entry field with correct answer 1300 Entry field with correct answer Entry field with correct answer Purchases Entry field with correct answer 17800 Entry field with correct answer Entry field with correct answer Accounts Payable Entry field with correct answer Entry field with correct answer 17800 Entry field with correct answer Entry field with correct answer Purchases Entry field with correct answer 21900 Entry field with correct answer Entry field with correct answer Accounts Payable Entry field with correct answer Entry field with correct answer 21900 Entry field with correct answer Entry field with correct answer Accounts Payable Entry field with correct answer 17800 Entry field with correct answer Entry field with correct answer Cash Entry field with correct answer Entry field with correct answer 17800 SHOW LIST OF ACCOUNTS LINK TO TEXT Correct answer. Your answer is correct. Assuming that purchases are recorded at net amounts and that discounts lost are treated as financial expenses: Prepare general journal entries to enter the transactions. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Entry field with correct answer Entry field with correct answer Purchases Entry field with correct answer 12740 Entry field with correct answer Entry field with correct answer Accounts Payable Entry field with correct answer Entry field with correct answer 12740 Entry field with correct answer Entry field with correct answer Accounts Payable Entry field with correct answer 1274 Entry field with correct answer Entry field with correct answer Purchase Returns and Allowances Entry field with correct answer Entry field with correct answer 1274 Entry field with correct answer Entry field with correct answer Purchases Entry field with correct answer 17622 Entry field with correct answer Entry field with correct answer Accounts Payable Entry field with correct answer Entry field with correct answer 17622 Entry field with correct answer Entry field with correct answer Purchases Entry field with correct answer 21462 Entry field with correct answer Entry field with correct answer Accounts Payable Entry field with correct answer Entry field with correct answer 21462 Aug. 28 Entry field with correct answer Accounts Payable Entry field with correct answer 17622 Entry field with correct answer Entry field with correct answer Purchase Discounts Lost Entry field with correct answer 178 Entry field with correct answer Entry field with correct answer Cash Entry field with correct answer Entry field with correct answer 17800