Transcribed image text: Prepare journal entries to record the following transactions for a retail store Assume a perpetual inventory system is tused March 1: Purchased merchandise from Alpha Company under the following terms 56,500 price, invoice dated March 1, credit terms of 2/10, 160, and FOB shopping point (1 marks) March 2: Returned to Alpha Company unacceptable merchandise that had an invoice price of $500 (1 marks) March 10: Sent a check to Alpha Company for the March 1 purchase, net of the discount and the returned merchandise. (1 mark) March 15: Sold merchandise for $4,000. granting the customer terms of 2/10, EOM, invoice dated March 15. The cost of the merchandise in $2,400. (2 marks)