Cant figure out the numbers for general journal entires at bottom Apr. 2 Purchas

Question

Cant figure out the numbers for general journal entires at bottom

Apr. 2 Purchased $4,500 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point 3 Paid $252 cash for shipping charges on the April 2 purchase. 4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $450 17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise. 18 Purchased $9,700 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination. 21 After negotiations, received from Frist a $500 allowance toward the $9,700 owed on the April 18 purchase. 28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount. Prepare journal entries to record each of the above merchandising transactions assuming that the buyer uses the periodic inventory system and the gross method.

Explanation / Answer

Journal entries :

Date accounts & explanation debit credit Apr 17 Account payable-Lyon (4500-450) 4050 Bank (4050*98%) 3969 Purchase discounts (4050*2%) 81 Apr 28 Account payable-Frist (9700-500) 9200 Bank (9200*99%) 9108 Purchase discount (9200*1%) 92

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