The Jewel Box purchases jewellery from around the world and sells to local retailers in Canada. Consider the following perpetual system merchandising transactions of The Jewel Box Use a separate account for each receivable and payable, for example, record the purchase on August 1 in Accounts Payable-Luu Company Aug. 1 Purchased necklaces from Lou Company for $4,800 under credit terms of 2/10, n/30, F08 destination 4 At Company's request, paid $430 for freight charges on the August 1 purchase, reducing the amount owed to Luu. Solding to Green Ruby for $4,280 under credit terms of 2/10, 1/60, Fos destination. The merchandise had cost $2,870. 8Purchased bracelets from Jane Co. for $6,000 under credit terms of 1/10, 1/45, FOB shipping point. 9 paid $405 shipping charges related to the August 5 sale to Green Ruby. 1er Ruby returned the rings purchased from the August 5 sale that had cost $520 and been sold for $800. The merchandise restored to inventory. 112 negotiations with Jane Co. concerning problems with the merchandise purchased on August 8, received a credite frane granting a price reduction of $500. 35ived balance due from Green Ruby for the August 5 sale. 17 Pchased office equipment from Westcoon credit, $6,800, n/45. Did the amount due Jane Co. for the August 8 purchase sld earrings to Chic Jewellery for $2,200 under credit terms of 1/10, n/30, FOB shipping point. The merchandise had cost $1,078. Chic Jewellery requested a price reduction on the August 19 sale because the merchandise did not meet specifications. Sent Chic Jewellery credit mo for $200 to resolve the issue. 29 Received Chic Jewellery's payment of the amount due from the August 19 purchase. 30 Paid luw Company the amount due from the August 1 purchase Prepare General Journal entries to record the above transactions Prov Next >