v BE5.4 (LO 2) AP Prepare the journal entries to record...
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BE5.4 (LO 2) AP Prepare the journal entries to record the following purchase transactions in Xiaoyan Compary's books. Xiaoyan uses a perpetual inventory system. Jan. 2 Xiaoyan purchased $20,000 of merchandise from Feng Company, terms n/30, FOB shipping point. 4 The correct company paid freight costs of $215. 6 Xiaoyan returned $1,500 of the merchandise purchased on January 2 because it was not needed. Feb. 1 Xiaoyan paid the balance owing to Feng
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