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 a company for $3,900 under credit terms of 2/10, 1/30, POD destination. 4 At Luu Company's request, paid $340 for freight charges on the August 1 purchase, reducing the amount oved to Lu. 5 Bold rings to Green Ruby for $3,740 under credit term of 2/10, 1/60, ron destination. The merchandine had cont $2,420. 8 Purchased bracelets from Jane Co. tor 05, 100 under credit term of 2/10, 1/45, TOB shipping point. 9 Paid $315 shipping charges related to the August 5 malo to Green Ruby 10 Green Raby returned the ring purchased from the August Saale that had cost $430 and been sold for $790. The merchandise was restored to inventory. 12 After negotiations with Jane Co. concerning problems with the merchandise purchased on que received credit me from Jane granting a peice reduction of 500. 15 Received balance due from Green Raby for the August Sealo. 17 Purchased office equipment from West.co on credit, 45,900, 6/45. 18 Paid the amount due Jane Co. for the August purchase. 19 Sold earringw to Chie Jewellery for $2,350 under credit terms of a/10, 1/30, POB shipping point. The merchandise had cost $1,100. 22 Chie Jewellery requested a price reduction on the August 19 sale because the merchandise did not meet apecifications. Bent Chic Jewellery a credit mamo or $200 to resolve the issue. 29 Received Chic Jewellery's payment of the amount due from the August 19 purchase 30 Paid Luu Company the amount due from the August I purchase. Prepare General Journal entries to record the above transactions repare General Journal entries to record the above transactions. View transaction list ! Record the purchased goods; terms 2/10, n/30, FOB destination. 2 Record the paid freight for Luu Company. 3 Record the sold goods; 2/10, n/60, FOB destination. 4 Record the cost of the August 5 sale. 5 Record the purchased goods; 2/10, n/45, FOB shipping point. 6 Record the shipping charges paid on August 5 sale. 7 Record the sales returned by customer. Note : journal entry has been entered Record entry Clear entry Vie Prey pany the amount due from the August 1 purch Prepare General Journal entries to record the above transactions. View transaction list X: 8 Record the goods returned to inventory. ch 9 Record the receipt of credit memo for August 8 purchase. 10 Record the receivable collected for Green Ruby. 11 Record the purchased office equipment. 12 Record the payment for Jane Co. Blit 13 Record the sold goods; terms 2/10, 1/30, FOB shipping point. 14 Record the cost of the August 19 sale. Note : - Journal entry has been entered Record entry Clear entry View gene Prev 1 of 7 AN 22 Chic Jewellery requested a price reduction on the August specifications. Sent Chic Jewellery a credit memo for $200 29 Received Chic Jewellery's payment of the amount due from t 30 Paid Luu Company the amount due from the August 1 purchase Prepare General Journal entries to record the above transactions. View transaction list x 11 Record the purchased office equipment. 12 Record the payment for Jane Co. 13 Record the sold goods; terms 2/10, n/30, FOB shipping point. I 14 Record the cost of the August 19 sale. 15 Reded the transaction for the issue of credit memo. Bit 16 Record the receivable collected within the discount period. 17 Record the payment to vendor for credit transaction. Note : = journal entry has been entered Record entry Clear entry View general jo Prey