Business, 05.02.2020 12:53 gdeorsey

Prepare journal entries to record the following transactions for a retail store. assume a perpetual inventory system. april 2 purchased merchandise from lyon company under the following terms: $4600 price, invoice dated april 2, credit terms of 2/15, n/60, fob shipping point.3 paid $300 for shipping charges on april 2 purchase.4 returned to lyon company unacceptable merchandise that had an invoice price of $600.17 sent a check to lyon company for the april 2 purchase, net of the discount price and the returned merchandise.18 purchased merchandise from frist corp, under the following terms: $8500 price, invoice dated april18, credit terms 2/10, n/30, fob shipping destination.21 after negotiations, received from frist a $1,100 allowance on the april 18 purchase.28 sent a check to frist paying for the april 18 purchase, net of the discount and allowance.

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Prepare journal entries to record the following transactions for a retail store. assume a perpetual...

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