Question 2

Alpha Company used the periodic inventory system for purchase & sales of merchandise. Discount terms for both purchase & sales are, FOB Destination, 2/10, n30 and the gross method is used.

> Alpha Company purchased on account $2,600 of merchandise from Bravo Company on May 2, 2016.

> Alpha Company returned, to Bravo Company, $300 of this merchandise on May 3, 2016.

> Freight charges related to this transaction of $150 were paid by Bravo Company.

Use this information to prepare the General Journal entries (without explanation) for May 2 & May 3 entries. If no entry is required then write "No Entry Required."

General Journal:

Date	Accounts	Debit	Credit