Chapter 8 Homework John's Specialty Store Uses A Perpetual Inventory. Chegg.comm Chapter 8 Homework Saved Help Save & Exit Submit Check my work 2 John's Specialty Store uses a perpetual inventory system. The following are some inventory transactions for the month of May 2018 1.66 points 1. John's purchased merchandise on account for $6,000. Freight charges of $800 were paid in cash. 2. John's returned some of the merchandise purchased in (1). The cost of the merchandise was $1,100 and John's account was credited by the supplier. 3. Merchandise costing $3,300 was sold for $6,200 in cash. eBook Hint Required Prepare the necessary journal entries to record these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Print References View transaction list Journal entry worksheet 4 Record the merchandise purchased on account for $6,000 Note: Enter debits before credits Transaction General Journal Debit Credit 01 Inventory 6,000 Graw Hill Prev 2 2 of 3 Next