FINAL EXAM 3 11 points 02:47:59 Saved Help Save & Exit Submit Exercise 5-6 Recording merchandise transactions: purchase and sale discounts-perpetual LO3 Chad Funk is a hair stylist who opened a business selling hair products. He imports products from around the world and sells to salons in Canada. Oct. 1 Purchased $5,200 of hair spray from Orbit Pro; terms 3/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $390. 5 Sold shampoo costing $1,750 to Barber & Co. for a price of $2,500 with terms of 2/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $175. 7 Returned $2,400 of inventory to Orbit Pro due to an error in the October 1 order. 10 Paid Orbit Pro for the purchase on October 1. 14 Barber & Co. returned $480 of inventory from the sale on October 5. The inventory had a cost of $336. 22 Received the payment from Barber & Co. on the October 5 sale. 23 Purchased $5,800 of hair conditioner from Keratin Hair; terms 2/10, n/30, FOB shipping point. The appropriate party paid the shipping cost of $1,250. 25 Sold hair gel to Styling Room for an invoice price of $2,900, terms 2/10, n/30, FOB destination. The hair gel had a cost of $2,030. The appropriate party paid the shipping cost of $625. 26 Paid for the purchase on October 23. 31 Received the payment from Styling Room on the October 25 sale. Required: Record the journal entries for the month of October. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry descriptions are provided already in the journal entry worksheet.) View transaction list Activate Window Go to Settings to active