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nts 02:08:22 C raw N W S Prepare journal entries to record the following transactions for a retail store. The company uses a perpetual inventory 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, and FOB shipping point. Paid $340 cash for shipping charges on the April 2 purchase. April 3 April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $450. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. April 18 Purchased $13,100 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination. April 21 April 28 # No 1 2 3 * E After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $13,100 owed on the April 18 purchase. Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. Date April 02 A02 $ 4 IOI R DF Merchandise inventory Accounts payable Lyon Marshanding inventari % X Answer is complete but not entirely correct. V 5 T G 16 General Journal B 40 Y Prev H 12 & 7 N 1 of 5 hp U * 8 M Debit 6,900 2102 Next > 1 f10 JU K Credit 6,900 411 L fm P alt C. insert ] pause

Prepare joumal entries to fecord the folowing transactions for a fetad store. The company uses a perpetual inventory system and the gress method. point. destinations. purchase. gross method. point, deatinatian: Furihase

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