Question 2 LCW Company completed the following merchandising transactions using a inventory system. Sept 4 LCW Company uses as a purchase invoice the sales invoice prepared by Company of RM3800 with credit terms 2/10, n/30. 6 Upon delivery of the goods, LCW Company pays Public Freight Company freight charges. 8 LCW Company returned goods costing RM300 to CL Audio Company 10 Sold goods on account to LD Company at RM5,000, term 1/10, n/30. The goods sold was RM2, 100. 14 LCW Company pays the balance due of RM3,500 (gross invoice price of RM purchase returns and allowances of RM300). Instructions a) Prepare the journal entry to records LCW Company transactions above. b) Post the above transactions to "Merchandise Inventory" ledger to calculate the merchandise inventory if LCW Company have beginning balance of RM1,500