Reference no: EM132505092

The Sport Store uses a perpetual inventory system. The following transactions occurred during April 2022:

1. April 2 Purchased merchandise from Rough Co. for $5,600 under credit terms of 1/15,n/30, FOB factory.
2. 3 Paid $285 for shipping charges on the April 2nd purchase.
3. 5 Sold merchandise to Fit Co. for $3,900 under credit terms of 2/10, n/30, FOB shipping point. The cost of the merchandise was $1,400.
4. 6 Received a $800 credit memorandum acknowledging the return of merchandise purchased on April 2
5. 7 Fit Co. requested a price reduction on the April 5 sale because the merchandise did not meet specifications. Sent Fit Co. a credit memorandum for $70d to resolve the issue.
6. 8 Received Fit Co.'s payment of the amount due from the April 5 sale
7. 13 Paid the balance due to Rough Co.
8. 18 Sold merchandise to Raptor Co. for $9,500. Raptor paid immediately. The merchandise cost $5,550.
9. 20 Paid $389 April telephone bill.

Instructions:

Question 1: Record the above transactions in the General Journal data entry form provided in the Learn Assessment Dropbox.