Chad Funk is a hair stylist who opened a business selling hair products. He imports products from around the world and sells to salons in Canada Oct. 1 Purchased $1,400 of hair spray from Orbit Pro; terms 3/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $200. 5 Sold shampoo costing $420 to Barber & Co. for a price of $600 with terms of 2/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $80. 7 Returned $500 of inventory to Orbit Pro due to an error in the October 1 order. 10 Paid Orbit Pro for the purchase on October 1. 14 Barber & Co. returned $100 of inventory from the sale on October 5. The inventory had a cost of $70. 22 Received the payment from Barber & Co. on the October 5 sale. 23 Purchased $2,000 of hair conditioner from Keratin Hair; terms 2/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $300. 25 Sold hair gel to Styling Room for an invoice price of $1,000, terms 2/10, n/30, FOB destination. The hair gel had a cost of $700. The appropriate party paid the shipping cost of $150. 26 Paid for the purchase on October 23. 31 Received the payment from Styling Room on the October 25 sale. Required: Record the journal entries for the month of October. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry descriptions are provided already in the journal entry worksheet.) View transaction list View transaction list :X ... 1 Record purchase of merchandise on credit; terms 3/10, n/30, FOB shipping point. Record payment for shipping cost. 3 Record sale of merchandise for $600; terms 2/10, n/30 shipping point. Record the cost of inventory sold on October 5. 5 Record the shipping costs. 6 Record return of merchandise. 7 Record the accounts payable paid for Orbit Pro. Note : = journal entry has been entered x 7 Record the accounts payable paid for Orbit Pro. 8 Record sales return of merchandise only. 9 Record the cost of returned merchandise. 10 Record the collection of accounts receivable beyond the discount period. 11 Record purchase of merchandise on credit; terms 2/10, n/30, FOB shipping point. 12 Record payment of shipping cost. 13 Record the sale of merchandise for $1,000; terms 2/10, Note : = journal entry has been entered 03 Record the sale of merchandise for $1,000; terms 2/10, Record the cost of inventory sold on October 25. 5 Record payment of shipping cost. OS Record the payment of accounts payable within the discount period Record the collection of accounts receivable within the discount period Note : = journal entry has been entered