Current Attempt in Progress

Prepare the journal entries to record the following purchase transactions in Riverbed Inc.$\text{'}$s books, assuming a periodic inventory

system is used. $($List all debit entries before credit entries. 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 $0$ for the amounts. Record journal entries in the order

presented in the problem.$)$

Jan. $2$ Riverbed purchased goods for $$57,600$ from Fundy Corp., terms $\frac{n}{45}.$ FOB destination.

$5$ The appropriate company paid freight costs of $$1,200.$

$6$ Riverbed returned $$7,680$ of the goods purchased on January $2,$ because they were not needed.

Feb. $11$ Riverbed paid the balance owed to Fundy.

Date

Account Titles and Explanation

Debit

Credit