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 PayableLuu Company.

Aug. 1 Purchased necklaces from Luu Company for $3,600 under credit terms of 2/10, n/30, FOB destination. 4 At Luu Companys request, paid $310 for freight charges on the August 1 purchase, reducing the amount owed to Luu.

5 Sold rings to Green Ruby for $3,560 under credit terms of 3/10, n/60, FOB destination. The merchandise had cost $2,270.

8 Purchased bracelets from Jane Co. for $4,800 under credit terms of 2/10, n/45, FOB shipping point.

9 Paid $285 shipping charges related to the August 5 sale to Green Ruby.

10 Green Ruby returned the rings purchased from the August 5 sale that had cost $400 and been sold for $760. The merchandise was restored to inventory.

12 After negotiations with Jane Co. concerning problems with the merchandise purchased on August 8, received a credit memo from Jane granting a price reduction of $500.

15 Received balance due from Green Ruby for the August 5 sale.

17 Purchased office equipment from WestCo on credit, $5,600, n/45.

18 Paid the amount due Jane Co. for the August 8 purchase.

19 Sold earrings to Chic Jewellery for $2,500 under credit terms of 2/10, n/30, FOB shipping point. The merchandise had cost $1,130.

22 Chic Jewellery requested a price reduction on the August 19 sale because the merchandise did not meet specifications. Sent Chic Jewellery a credit memo for $200 to resolve the issue.

29 Received Chic Jewellerys payment of the amount due from the August 19 purchase.

30 Paid Luu Company the amount due from the August 1 purchase.

Prepare General Journal entries to record the above transactions.