Question 1 of 7 < > 3.2/4 E Prepare the journal entries to record the following purchase transactions in Blue Spruce Inc.'s books. Blue Spruce uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem.) Jan. 2 Blue Spruce purchased goods for $52,200 from Fundy Corp., terms n/45, FOB destination. 5 The appropriate company paid freight costs of $1,080. 6 Blue Spruce returned $6,960 of the goods purchased on January 2, because they were not needed. Feb. 11 Blue Spruce paid the balance owed to Fundy. Date Account Titles and Explanation Jan. 2 Inventory Accounts Payable Jan. 5 Inventory Cash Debit 52,200 1,080 Jan. 6 Accounts Payable 6,960 Inventory Credit 52,200 1,080 6,960 SUPPORT