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Prepare journal entries to record each of the following merchandising transactions assuming that the buyer uses the periodic inven system and the gross method. April 2 Purchased $6,900 of merchandise from Lyon Company with credit terms of 2/15,n/60, invoice dated April 2, FOB shipping point. April 3 Paid $386 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $900. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. April 18 Purchased $14,500 of merchandise from Frist Corporation with credit terms of 1/10,n/30, invoice dated Ap 18 , and FOB destination. April 21 After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $14,500 owed the April 18 purchase. April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. Journal entry worksheet Note: Enter debits before credits. Journal entry worksheet 7 Paid $386 cash for shipping charges on the April 2 purchase. Note: Enter debits before credits