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Question 1 (11 points) Vector Enterprises likes to take advantage of purchase/sales discounts for early...

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Question 1 (11 points) Vector Enterprises likes to take advantage of purchase/sales discounts for early payment at the time of payment. Prepare the following journal entries during the month of April, ignoring the effect of sales taxes. (11 marks): Apr 3 Sold inventory costing $3,020 to Agnes Corp on credit for $5,091. Terms 4/10 net 30. Apr 11 Agnes Corp paid their account, for the full amount Apr 15 Purchased inventory costing $8,444 from Laze-On Ltd. on credit. Terms 4/10 net 30. Apr 18 Vector Enterprises discovered that $1,243 worth of merchandise is defective and returned it to Laze-On Ltd. for adjustment to the account. Apr 19 $875 of the merchandise sold on Apr 3 to Agnes Corp was damaged and not salvageable. They want a credit on account. Apr 22 Sent a payment to Laze-On Ltd. for $1,000 Paragraph V Il UA + O -11 Iata na O o -15C Ca ENG 9:05 AM 2021-12-13 DLL Wees 12 Dise FAM FO F8 F6 FS

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