Recording Purchase Transactions Mathis Company and Reece Company use the perpetual inventory system. The following transactions occurred during the month of April a on April 1, Mathis Company purchased merchandise on account from Reece Company with credit terms of 2/10, 1/30. The selling price of the merchandise was 54,200, and the cost of the merchandise sold was $2,450. b. on April 1, Mathis paid freight charges of $100 cash to have the goods delivered to its warehouse c. On April 8, Mathis returned $1,000 of the merchandise which had originally cost Reece $700. d. On April 10, Mathis paid Reece the balance doe. Required: Prepare the journal entry to record the All purchase ignore any freight charge of merchandise by Mathis Company April 1 (Purchased Inventory on account) Prepare the journal entry to record the payment of freight on April (Recorded the payment of freight charges Prepare the journal entry to record the April return of merchandise April (Returned merchandise Prepare the journal entry to record the April 10 payment to Reece Company. It an amount box does not require an entry leave it bank, Apr 10 Nest Ched My Work or CheckMy Works rema All work savel Save and Sun Augen for Grading