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Accounting

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Requlred Information
[The following information applies to the questions displayed below.]
Piere Imports uses the perpetual system in accounting for merchandise inventory and had the following transactions during the month of October.
October 2 Purchased merchandise at a $3, price ( $2,940 net), invoice dated October 2, terms 210,n30.
October 10 Returned $50( $490 net) of merchandise purchased on October 2 and debited its accounts payable for that amount.
October 17 Purchased merchandise at a $5,409 price ( $5,292 net), invoice dated October 17, terms 210,n30.
October 27 Paid for the merchandise purchased on October 17, less the discount.
October 31 paid for the merchandise purchased on October 2.
(b) Prepare entries to record the above transactions assuming that Piere Imports records invoices at net amounts.
Answer is not complete.
\table[[No,Date,General Journal,Debit,Credit],[1,October 02,Merchandise inventory,,3,000,],[,Accounts payable,0,,3,000
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