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 $4,300 under credit terms of 1/10, 1/30, FOB destination. 4 At Luu Company's request, paid 5380 for freight charges on the August 1 purchase, reducing the amount owed to Luu. 5 Sold rings to Green Ruby for $3,980 under credit terms of 2/10, 1/60, FOB destination. The merchandise had cost $2,620. Purchased bracelets from Jane Co. for $5,500 under credit terms of 1/10, 1/45, FOB shipping point. 9 Paid $355 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 $470 and been sold for $830. 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 price reduction of $400. 15 Received balance due from Green Ruby for the August 5 sale. 17 Purchased office equipment from Westco on credit, 56,300, 1/45. 18 Paid the amount due Jane Co. for the August 8 purchase. 19 Sold earrings to Chic Jewellery for $1,950 under credit terns of 2/10, 1/30, FOB shipping point. The merchandise had cost $1,020. 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 $300 to resolve the issue. 29 Received Chic Jewellery's payment of the amount due from the August 19 purchase. 30 Pald Luu Company the amount due from the August 1 purchase. Prepare General Journal entries to record the above transactions View transaction list Journal entry worksheet 1 2 3 4 5 6 7 17 Record the purchased goods; terms 1/10, 1/30, FOB destination