Recording purchases, returns, and allowances-periodic

Apr.		2		Purchased $5,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point.
		3		Paid $314 cash for shipping charges on the April 2 purchase.
		4		Returned to Lyon Company unacceptable merchandise that had an invoice price of $600.
		17		Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.
		18		Purchased $11,900 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination.
		21		After negotiations, received from Frist a $500 allowance toward the $11,900 owed on the April 18 purchase.
		28		Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.

Prepare journal entries to record each of the above merchandising transactions assuming that the buyer uses the periodic inventory system and the gross method.

Exercise 4-15A Recording purchases, returns, and allowances-periodic LO P5 f merchandise from Lyon Company with credst teres of 2/15, n/e, invoice dated Apri1 2, and ros shipping point. 3 Paid $314 cash for shipping charges on the April 2 purchase. rned to Lyon Company unacceptable merchandise that had an invoice price of $68e. 17 Sen t a check to Lyon Company for the April 2 purchase, net of the discount and the returned serchandise. 21 After negotiations, received from Frist s500 allowance toward the $11,900 owed on the April 18 purchase 11,900 of merchandise from Frist Corp. with credit terms of 1/1e, n/3, invoice dated April 18, and FOB destination ok 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. Prepare journal entries to record each of the above merchandising transactions assuming that the system and the gross methoo buyer uses the periodic inventory View transaction list Journal entry worksheet Purchased $5,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. Note: Enter debits before credits Date Dbit Credit General Journal Apr 02 Record entry Clear entry View general journal