to Lafond Co. The merchandise was purchased on credit. The cost of the menchandise to Lafond Co. is $165. What would be the jounal enty on the bocks of both the buyern ler Assume the perpetual inventory system (Recond debs firs, then oredits. Expluce expianations from jourmal entries Reoord the entry for the buyer (Pedro Morse). Cr. The cost oftho moehanie to Lafond C0 $166. Assune ne perpeMal invernry system Pedro Morse returned $315 (seling price) of menchandise to Latond Co. The was purchased on crede. Dr