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Saved John's Specialty Store uses a periodic inventory system. The following are some inventory transactions...

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Accounting

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Saved John's Specialty Store uses a periodic inventory system. The following are some inventory transactions for the month of 1 John's purchased merchandise on account for $6,900. Freight charges of $1.250 were paid in cash of the merchandise purchased in ()-The cost of the merchandise was $1,550 and John's account was credited by the supplier 3. Merchandise costing $3750 was sold for $7100 in cash. Required: Prepare the necessary journal entries to record these tronsactions If no entry is required for a transaction/event, sefect "No journel entry required" in the first account field.) View transaction list Journal entry worksheet Record the merchandise purchased on account for $6,900. Note: Ester debits before credits ransact General Journal Debit Credit 01 , a

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