WeAreFashion retails designer bags from its warehouse in New Jersey. WeAreFashion completed the following transactions during month of January.

1. Purchased 30 bags for $25,000 from Los Angeles Designs. Terms 2/10, n/30. Freight costs were $1,500 paid by WeAreFashion.

2. Returned $3,700 worth of bags to Los Angeles Designs. The brand of bags was incorrect.

3. WeAreFashion settled within 7 days the balance due on account to Los Angeles Designs.

4. Sold bags costing $6,600 for $9,200 ($6,800 for cash and the remainder on credit).

Required:

Using the periodic inventory system, record the above transactions in the general journal of WeAreFashion for the month of January. Narrations are not required. (12 marks)