ANSWER ASAP

Prepare the necessary general journal entries for the month of October for Trout Company for each situation given below. Trout uses a perpetual inventory system.

1. Oct. 8 Purchased merchandise for $20,000 on account. Credit terms: n/30; Freight term: FOB Shipping Point.

2. Oct. 10 Paid freight bill of $470 for merchandise purchased on October 8.

3. Oct. 20 Sold merchandise for $16,000 to Ted Freidberg on account. Credit terms: n/30. The cost of the merchandise sold was $10,000.

4. Oct. 25 Issued Credit Memo No. 151 to Ted Freidberg for $500 for merchandise damaged. The cost of the merchandise was originally $300. (return)

JOURNAL ENTRY FOR THE FOLLWING