ant FULL SCREEN PRINTER VERLIN Exercise 5-3 Ivanhoe Stores is a new company that started operations on March 1, 2017. The company has decided to use a perpetual inventory system. The following purchase transactions Occurred in March: Mar. 1 Ivanhoe Stores purchases $9,300 of merchandise for resale from Octagon Wholesalers, terms 2/10,n/30, FOB shipping point. 2 The correct company pays $145 for the shipping charges. 3 Ivanhoe returns $1,000 of the merchandise purchased on March 1 because it was the wrong colour, Octagon gives Ivanhoe a $1,000 credit on its account. 21 Ivanhoe Stores purchases an additional $12,500 of merchandise for resale from Octagon Wholesalers terms 2/10, 1/30, FOB destination. 22 The correct company pays $165 for freight charges. 23 Ivanhoe returns $350 of the merchandise purchased on March 21 because it was damaged. Octagon gives Ivanhoe a $350 credit on its account. 30 Ivanhoe pays Octagon the amount owing for the merchandise purchased on March 1. 31 Ivanhoe pays Octagon the amount owing for the merchandise purchased on March 21. Prepare Ivanhoe Stores journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Record journal entries in the order presented in the problem.) Debit Credit Date Account Titles and Explanation Merchandise Inventory 9300 9300 Accounts Payable 356 PM ENG O here to search hp home end prt s ICE delete SUDDE D mumlock Vetrem 8 en Assignment OURCES FULL SCREEN PROTER VISION manually. I no entry is require Nonry Torccountanarenter or moramounts Recorajournurants in the order pre con problem.) ummer Date Account Titles and Explanation Debit Credit Mar. 1 Merchandise Inventory 9300 Accounts Payable 9300 Mar. 2 Merchandise Inventory Cash Mar. 3 Accounts Payable Merchandise Inventory Mar. 21 Merchandise Inventory Accounts Payable Mar. 22 No Entry No Entry Mar. 23 Accounts Payable pe here to search hp > Open Assignment PICTATIVACY IT RESOURCES #8 Summer Accounts Payable 5-2 Mar. 22 v No Entry 53 No Entry are Mar. 23 Accounts Payable Merchandise Inventory Mar. 30 Accounts Payable Cash Mar. 31 Accounts Payable Merchandise Inventory Cash SHOW LIST OF ACCOUNTS LINK TO TEXT O Type here to search signment ES Post the transactions to the merchandise inventory account. Compare the total in this account with the total of the cash pald during March by Ivanhoe for the pur (Note: assume there were no sales of inventory in March.) (Post entries in the order of journal entries presented in the previous part.) Merchandise Inventory