The following information applies to the questions displayed below] trial balance for Terry's Auto Shop as of January 1, Year 2, follows: $14,810 3,160 s 7,420 BR 10,550 Total The following events affected the company during the Year 2 accounting period: 1. Purchased merchandise on account that cost $4.200. 2. The goods in Event 1 were purchased FOB shipping point with freight cost of $255 cash. 3. Returned $435 of damaged merchandise for credit on account 4. Agreed to keep other damaged merchandise for which the company received an $280 allowance, 5. Sold merchandise that cost $2,730 for $13,100 cash. 6. Delivered merchandise to customers in Event 5 under terms FOB destination with freight costs amounting to $110 cash. 7. Paid $2,870 on the merchandise purchased in Event 1. 8. Paid $8,760 cash for operating expenses. uired events in ceneral iournal format. (lf no entrv is reauired for a transaction/event. select "No iournal entry reaulred" in Prey 456 016 ll Next >