Please Show All Your Calculations for Your Response: More Info Jul 4 Wholesale Furnishings purchased $8,000 of merchandise from M and P Furniture Warehouse on account Terms, 1/15, n/30, FOB shipping point. The goods cost M and P Furniture Warehouse $3,100. 7 Wholesale Furnishings paid a $100 freight bill for delivery of the goods purchased on July 4. 10 Wholesale Furnishings retumed $1,100 of the merchandise purchased on July 4. The goods cost M and P Furniture Warehouse $400. 18 Wholesale Furnishings paid $1,800 of the July 4 invoice less the discount. 31 Wholesale Furnishings paid the remaining amount owed on the July 4 invoice Print Print Done Done Requirement 2. Journalize these transactions on the books of M and P Furniture Warehouse, assuming the "net" method is used. (Record debits first, then credits. Exclude explanations from any journal entries.) Jul 4: Wholesale Fumishings purchased $8,000 of merchandise from M and P Furniture Warehouse on account. Terms, 1/15, n/30. FOB shipping point. The goods cost M and P Fumiture Warehouse $3,100 Begin by journalizing the revenue from the sale of merchandise. (Do not yet record the cost related to the sale. We will do this in the next journal entry.) Date Debit Credit Journal Entry Accounts 4 Accounts receivable Sales revenue Jul