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1. The following events affected Austin's Auto Shop during 2019. 1 Purchased merchandise on account...

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1. The following events affected Austin's Auto Shop during 2019. 1 Purchased merchandise on account that costs $25,000. The terms of purchases are 2/11, n/45. 2 The goods in Event I were purchased FOB shipping point with freight cost of $800 cash 3 Returned $2,000 of damaged merchandise (Event 1) to the supplier 4 Sold merchandise that costs $12,000 for $21,500 cash. The terms of sale was 2/11, n/45. 5 Delivered merchandise to customers in Event 4 under terms FOB destination with freight costs amounting to $500 cash 6 Paid the amount due on its account payable (Event 1) within the discount period. 7 The customer paid the amount due on (Event 4) during the discount period. Required: [7 Marks) a. Prepare journal entries to record the events 7 Marks)

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