1. merchandise of $55,100 which is held by jackson on consignment. the consignor is the max suzuki company. 2. merchandise costing $38,440 which was shipped by jackson f. o.b. destination to a customer on december 31, 2020. the customer was expected to receive the merchandise on january 6, 2021. 3. merchandise costing $50,010 which was shipped by jackson f. o.b. shipping point to a customer on december 29, 2020. the customer was scheduled to receive the merchandise on january 2, 2021. 4. merchandise costing $79,190 shipped by a vendor f. o.b. destination on december 30, 2020, and received by jackson on january 4, 2021. 5. merchandise costing $56,100 shipped by a vendor f. o.b. shipping point on december 31, 2020, and received by jackson on january 5, 2021.

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya. jan. 3purchased on account 350 widgets for $11 each. b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c. jan. 10purchased on account 625 widgets for $12 each. d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company. e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered. f.jan. 13paid for the purchases made on jan. 3.g. jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h. jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition. i.jan. 25received payment for the sale made on jan. 5.j. jan. 26paid for the purchases made on jan. 10.k. jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."