View History Bookmarks Window Help 100% N Check my work mode: This shows what is correct or incorrect for the work you have completed so far. It does not indicate completion Returs GL04-02- Based on Problem 4-2A LO P1, P2 Prepare journal entries to record the following merchandising transactions of Carters, which uses the perpetual inventory system CHint: it will help to identity each receivable and payable: for example, record the purchase on August 1 in Accounts Payable-Lane) Aug. 1 Purchased nerchandise from Lane Company for 511,300 under eredit terma ot 1/10, n/3, ros destination, Iavoice Aug. s sold merehandise to Lee Corp, for $7,100 under eredit terms of 2/10, n/60, FOD destination, invoice dated Aogest Aog.8 Purchased nerchandise fros Hannion Corporation for $6,160 under eredit terms of 1/10, n/45, rOB shipping point, S. The merchandise had cost $4,3a invoice dated Nogust Na.9 Paid $725 cash for shipping eharges related to the Nogust 5 sale to Lee corp Kug. 10 Lee returned serchandise from the Auust s sale that hd cost Carter'$200 and vas sold for 400. The og 12 htter negotiations with Hanmion Corporation eoneerning problems with the purchasea on August Carter' kug. 14 At Lane's request, Carter'paid $600 cash for treight charges on the Auguse I purehase, redueing the anount ug. 15 Received balance due from Lee Corp. for the august 5 sale less the return on kagust 10 Nog 18 Paid the amount doe Hannion Corporat.ion for the Auguat purchase less the price allovance from August 12 Aug. 19 Sold her ehandise toWalker Co. tar S4,200 under eredit terna of ron shipping peine, inrace dated August Aug. 22 walker requested a priee redueti on on the Aupat 1, sale because the 'erehandise d4dot Net ap liations 4.200 invoice to Nag. 29 Received Walker'scash payment for the amount due from the kugust 19 sale less the price allovance from August Aug. 30 Paid Lase Company the anount dee froa the August 1 purchase Answer is not complete. Schedule of Schedule of Income Impact on Ledger Trial Baiane Journalize the merchandising transactions. The General Ledger, trial balance, and schedules of accounts receivable and accounts payable wil be updated based on your entries 2 3 4 6 8