| Apr. 2 | Purchased merchandise from Blue Company under the following terms: $6,700 price, invoice dated April 2, credit terms of 2/15, n/60, and FOB shipping point. Don't use plagiarized sources. Get Your Custom Essay on journal entries perpetual inventory 497600 For $10/Page 0nly |
| 3 | Paid $375 for shipping charges on the April 2 purchase. |
| 4 | Returned to Blue Company unacceptable merchandise that had an invoice price of $500. |
| 17 | Sent a check to Blue Company for the April 2 purchase, net of the discount and the returned merchandise. |
| 18 | Purchased merchandise from Fox Corp. under the following terms: $13,850 price, invoice dated April 18, credit terms of 2/10, n/30, and FOB destination. |
| 21 | After negotiations, received from Fox a $3,878 allowance on the April 18 purchase. |
| 28 | Sent check to Fox paying for the April 18 purchase, net of the discount and allowance. |
| Prepare journal entries to record the above transactions for a retail store. Assume a perpetual inventory system.(Round your answers to the nearest dollar amount. Omit the “$” sign in your response.) |
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