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Prepare journal entries to record the following transactions for a retail store. The company uses...

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Accounting

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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 $3,200 of nerchandise from Lyon Company with credit terms of 2/15,n/60, invoice dated Apri1 2 , and Fos shipping point. April 3 paid $240 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable nerchandise that had an invoice price of $550. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. April 18 purchased $5,700 of merchandise fros Frint corporation with eredit terms of 1/10,n/30, 1nvoice dated Apri1 18 , and ros destination. April 21 After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $5,700 owod on the April 18 purchase. April 28 Sent choek to Frist paying for the April 18 purchase, net of the allowance and the discount. Journal entry worksheet

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