(The jewel box) purchases, jewellery from around the world and sells to local retailers in Canada. Consider the following perpetual system merchandising transactions at the (jewelbox). Use a separate account for each receivable and payable; for example, record the purchase on August 1 in Accounts Payable. Luu Company

The Jewel Box purchases jewellery from around the worid 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. I Purchased necklacen from Luu Company for $4,600 under eredit terms of 1/10,n/30, ros destination. 4 At Luu Company's request, paid $410 for freight charges on the August 1 purchase, redueing the anount owed to Luu. 5 Sold rings to Green Ruby for $4,160 under credit terma of 3/10,n/60, Fon destination. The nerehandise had cost $2,770. 8 purchased bracelets from Jane Co. for $5,800 under eredit terms of 1/10,n/45, FoB shipping point. 9 Paid $385 shipping eharges related to the August 5 sale to Creen Ruby. 10 Green Ruby returned the rings purchaned from the August 5 sale that had cost $500 and been sold for $860. The merchandine was restored to inventory. 12 After negotiatione with Jane Co. concerning problems with the morchandise purehased on Auguat 8 , received a eredit memo from Jane granting a price reduction of $400. 15 Received balance due from Green Ruby for the Auguat 5 nale. 17 Purchased office equipment from westco on eredit, 56,600,n/45. 18 Paid the amount due Jatie co. for the Augunt 8 purchane. 19 Sold earringn to chic Jewellery for $2,100 under eredit terms of 1/10,n/30, rob ahipping point. The merehandise had cost $1,050. 22 Chic jesellery requented a price reduction on the Auguat 19 nale because the merchandise did not meet specifleations. Sent chic jewe1lery a eredit memo for 5300 zto renolve the insue. 29 Recelved chio Jewellery's payment of the amount due from the Auguat 19 purchase. 30. Paid Luu Company the amount due from the Auguat i purehase. Prepare General Journal entries to record the above transactions. Journal entry worksheet 578. Record the purchased goods; terms 1/10,n/30, FOB destination. Note: Enter debits before credits. Journal entry worksheet 45 Record the paid freight for Luu Company. Note: Enter debits before credits. Journal entry worksheet 5 6 Record the sold goods; 3/10,n/60, FOB destination. Note: Enter debits before credits. Journal entry worksheet 12 Tvote: Enter debits Derore credits. Journal entry worksheet 7 Record the purchased goods; 1/10,n/45, FOB shipping point. Note: Enter debits before credits. Journal entry worksheet 1 2 4 Record the shipping charges paid on August 5 sale. Note: Enter debits before credits. Journal entry worksheet