Prepare the journal entries in Retro's books for the following transactions assuming a periodic system.
March 1 Retro Corp. purchased $8,000 of merchandise from Alloy Corp. on account,
terms 2/15, n/30. FOB shipping point. The goods cost Alloy $2,900.
March 9 Retro paid a $200 freight bill for delivery of the goods purchased on March 1.
March 11 Retro returned $1,000 of the merchandise purchased on March 1.
The goods cost Alloy $450.
March 15 Retro paid for the March 1 purchase in full.

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The Answer of Prepare the journal entries in Retro's books for the following transactions assuming a periodic system.
March 1 Retro Corp. purchased $8,000 of merchandise from Alloy Corp. on account,
terms 2/15, n/30. FOB shipping point. The goods cost Alloy $2,900.
March 9 Retro paid a $200 freight bill for delivery of the goods purchased on March 1.
March 11 Retro returned $1,000 of the merchandise purchased on March 1.
The goods cost Alloy $450.
March 15 Retro paid for the March 1 purchase in full.

Prepare the Journal Entries in Retro's Books for the Following