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 Luu Company for $3,600 under credit terms of 2/10, n/30, FOB destination. 9 At Luu Company's request, paid $310 for freight charges on the August 1 purchase, reducing the amount owed to Hi. 5 Sold rings to Green Ruby for $3,560 under credit terms or 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 Auguet 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 meno 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, 1/45. 10 Paid the amount due Jane Co. for the Augusto purchase. 19 Sold earrings to Chic Jewellery for $2,500 under credit term of 2/10, n/30, TOB 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 Chie Jewellery a credit memo for $200 to resolve the issue. 29 Received Chie Jewellery > payment of the amount due from the August 19 purchase. 30 Paid Luu Company the amount due from the Augant 1 purchase Prepare General Journal entries to record the above transactions. View transaction list Journal entry worksheet