Journalize the following transactions assuming a perpetual inventory system:
May 5 Purchased merchandise from Archie Co.,$6,000,terms FOB shipping point,2/10,n/30.
Prepaid freight costs of $100 were added to the invoice.
12 Issued a debit memo to Archie Co.for $2,500 of merchandise returned from purchase on May 5.
14 Paid Archie Co.for invoice of May 5,less debit memo of May 12.

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The Answer of Journalize the following transactions assuming a perpetual inventory system:
May 5 Purchased merchandise from Archie Co.,$6,000,terms FOB shipping point,2/10,n/30.
Prepaid freight costs of $100 were added to the invoice.
12 Issued a debit memo to Archie Co.for $2,500 of merchandise returned from purchase on May 5.
14 Paid Archie Co.for invoice of May 5,less debit memo of May 12.

Journalize the Following Transactions Assuming a Perpetual Inventory System