Make Journal entries for the following transactions for the Hat Store

a	3/1	Hat Store buys hats on account for $4,600 from a distributor with terms FOB shipping point
		and payment 2/10 net 30
b	3/2	Paid freight on the purchase from 3/1 cash $150
c	3/5	Sold 20 hats to a baseball team for $600 on account 3/10 net 30. The cost of the hats was $200
d	3/6	Hat store returned 3 damaged hats, related to 3/1 purchase and received a $200 credit
e	3/8	Paid the distributor for the purchase in # 1 in full and took the discount. Remember to
		subtract the discount..
f	3/8	Hat store bought more hats for $5,500, cash. No freight cost
g	3/9	Received payment from the customer for merchandise sold on 3/5. Customer took the discount.
h	3/9	Hat store sold 50 hats for $1200 cash. Terms are FOB destination. The cost of the 50 hats was $500
i	3/10	The Hat store paid freight on the 3/9 sale $100 cash

j	3/11	Customer from 3/9 sale returned 5 hats and we gave them cash back of $120.
		The cost on those hats was $50

3	For the above transactions create an Income statement for March just down to the
	Gross Profit
		Revenue
		less Discounts
		less Returns & Allowances
		Net Revenue
		Cost of Goods Sold
		Gross Profit