Business
Business, 17.09.2019 23:00, Adanysa

Prepare journal entries to record the following transactions for a retail store. the company uses a perpetual inventory system and the gross method.  apr.2 o purchased $4,600 of merchandise from lyon company with credit terms of 2/15, n/60, invoice dated april 2, and fob shipping point.  apr.3 o paid $300 cash for shipping charges on the april 2 purchase.  apr.4  apr. 17  apr. 18  apr. 21  apr. 28 o returned to lyon company unacceptable merchandise that had an invoice price of $600. o sent a check to lyon company for the april 2 purchase, net of the discount and the returned merchandise. o purchased $8,500 of merchandise from frist corp. with credit terms of 1/10, n/30, invoice dated april 18, and fob destination. o after negotiations, received from frist a $500 allowance toward the $8,500 owed on the april 18 purchase.

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

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