Please answer the question the way you see it. Thank you SavedTER 4ross method.Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, andFOB shipping point.April 2April 3 Paid $300 cash for shipping charges on the April 2 purchase.April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600.April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.April 18 Purchased $8,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated April18, and FOB destination.After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,500 owed onthe April 18 purchase.April 21April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.View transaction listJournal entry worksheet23456ncesPurchased $8,500 of merchandise from Frist Corporation with credit terms of1/10, n/30, invoice dated April 18, and FOB destination.Note: Enter debits before credits.DateGeneral JournalDebitCreditApr 18GrawHill1 of 5PrevNext >MacBook Air888#33@%24&2456.8WERYPHJKCVammand....B gross method.Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated AprilApril 2 FOB shipping point.April 3 Paid $300 cash for shipping charges on the April 2 purchase.April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600.April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.Purchased $8,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated Apr.18, and FOB destination.After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,500 owedothe April 18 purchase.April 18April 21April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.View transaction listJournal entry worksheetnt234erencesAfter negotiations over scuffed merchandise, received from Frist a $500allowance toward the $8,500 owed on the April 18 purchase.Note: Enter debits before credits.DateGeneral JournalDebitCreditApr 21GrawPrev1 of 5Next >MacBook AirDIIF1023$&23467QWERYGHKCcommandcommandこのLL

Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. April 2 April 3 Paid $300 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. Purchased $8,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination. After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,500 owed on the April 18 purchase. April 18 April 21 April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. View transaction list

Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point. April 2 April 3 Paid $300 cash for shipping charges on the April 2 purchase. April 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600. April 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. Purchased $8,500 of merchandise from Frist Corporation with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination. After negotiations over scuffed merchandise, received from Frist a $500 allowance toward the $8,500 owed on the April 18 purchase. April 18 April 21 April 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. View transaction list

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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