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Question a) b) c) d) e) f) g) Prepare journal entries to record the following transactions of Recycled Fashion retail store. Recycled Fashion uses a

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Prepare journal entries to record the following transactions of Recycled Fashion retail store. Recycled Fashion uses a perpetual inventory system and the gross method. March 3 Purchased $1,120 of merchandise from GreenWorld Company with credit terns of 2/15, n/60, invoice dated March 3, and FOB shipping point. March 4 Paid $90 cash for shipping charges on the March 3 purchase. March 5 Returned to Greenworld unacceptable merchandise that had an invoice price of $120. March 18 Paid Greenworld for the March 3 purchase, net of the discount and the returned merchandise. March 19 Purchased $740 of merchandise from PeopleFirst Corporation with credit terms of 1/10, 1/30, Invoice dated March 19, and FOB destination. March 21 After negotiations, received from PeopleFirst a $40 allowance (for scuffed merchandise) toward the $740 owed on the March 19 purchase. March 29 Sent check to PeopleFirst paying for the March 19 purchase, net of the allowance and the discount. View transaction list Journal entry worksheet 1 2 3 4 5 6 7 Purchased $1,120 of merchandise from Green World Company with credit terms of 2/15, 1/60, invoice dated March 3, and FOB shipping point. Note: Enter debits before credits. Date General Journal Debit Credit Mar 03 Record entry Clear entry View general journal Journal entry worksheet After negotiations, received from PeopleFirst a $40 allowance (for scuffed merchandise) toward the $740 owed on the March 19 purchase. Note: Enter debits before credits. Date General Journal Debit Credit Mar 21 Record entry Clear entry View general Journal Journal entry worksheet

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