Sandy's Supply Store,

Sandy's Supply Store, Inc., entered into the transactions listed below. Prepare Sandy's General Journal entries, assuming use of the perpetual inventory system Omit explanations. 1207 Mar.2 Purchased $900 of merchandise on credit, terms n/30. Returned $150 of the items purchased on March 2. Paid freight charges of $50 on the items purchased March 2. Sold merchandise on credit for $1,200, terms n/15. The merchandise had a cost in inventory of $750. 16 Of the merchandise sold on March 16, $100 of it was returned. The items had cost Sandy's $30. 17 25 Received payment in full from the customer of March 16. 31 Paid for the merchandise purchased on March 2.