The following transactions for Best Tire Ltd. occurred during March 2019:

March 4. Placed an order for $5,400 of merchandise on account from Bargain Inc., terms 2/10,

n/30, FOB shipping point. Bargain Inc. shipped the goods on the same day.

5. Received the goods from Bargain Inc. and paid $100 for the delivery charges.

6. Received an order from a customer, W. Fence Corp.

11. Delivered merchandise to W. Fence Corp. at a selling price of $3,000 (cost

$1,500) on account, terms 3/15, n/45, FOB destination.

11. Paid $25 for delivery of the goods to W. Fence.

12. Returned $600 of the merchandise purchased on March 4.

12. Sold $4,000 (cost, $2,000) of merchandise to cash customers.

13. Paid Bargain Inc. the amount due from the March 4 purchase.

18. W. Fence Corp. returned $500 of the merchandise it had purchased on March 11.

The goods had cost Best Tire Ltd. $250.

23. Received payment from W. Fence Corp. for the amount owing from the March 11

sale.

REQUIRED:

Prepare the necessary journal entries in the books of Best Deal Tire Co. for the transactions using the perpetual inventory system.