The folowing selected transactions were comploted by Ait Systems Company during January of the curent year. Air Systems Compary uses the periodic inventory systems. Jan. 2 Purchased $18,200 of merchandie on acount, FOE shipping point, terms 2/15, n30. 5 Paid treight of 5190 on the Jenuary 2 purchase. 6. Peturned $2.750 of the merchandibe purchased on January 2. 13. fold merchandise on account, 437,300, FOE desanadion, 17t, ng0. The cost of merchmdise soid was Wre, 490 15. Paid treight of 3215 for the merchandse sold on January 13. 17. Paid for the parchase of denuary 2 lest the retam and discourt. 29. Received parment on aocount for the sale of jamuary 13 less the disoourt. explanations. Evey ine on a jeumal page is used for debir ar credit evoies. Journal Entries Using the Periodic Inventory System Joumalive the entries to recand the transactions of Air Systems Company. Refer to the chart of accounts for the axact wanding of the account tites. CNCW joumats do nof use fines for foumail euplanafions, Every line on a joumal page is used for dobit ar credit entries