please record an entry on the journal entry worksheet for all 15. inventory purchased on account. freight cost paid in cash. return of inventory was damaged in transit. discount on invenrory purchased. cash paud for accounts payable. sale of incentory on account. cost of goods sold. return of merchandise sold. cost of goods sold return. cash pair for freight changed for delivered goods. discount on inclventory sold. collect the alount due on the account recievable within the discount period. sale of land. recognize accured interest income. inventory loss.

Required information [The following information applies to the questions displayed below.) At the beginning of Year 2, the Redd Company had the following balances in its accounts: Cash Inventory Land Common stock Retained earnings $15,800 6,000 2,400 13,000 11,200 During Year 2, the company experienced the following events: 1. Purchased inventory that cost $11,600 on account from Ross Company under terms 2/10,n/30. The merchandise was delivered FOB shipping point. Freight costs of $840 were paid in cash. 2. Returned $650 of the inventory it had purchased from Ross Company because the inventory was damaged in transit. The seller agreed to pay the return freight cost. 3. Paid the amount due on its account payable to Ross Company within the cash discount period. 4. Sold inventory that had cost $8,500 for $14,500 on account, under terms 2/10, n/45. 5. Received merchandise returned from a customer. The merchandise originally cost $1,400 and was sold to the customer for $2,500 cash. The customer was paid $2,500 cash for the returned merchandise. 6. Delivered goods FOB destination in Event 4. Freight costs of $730 were paid in cash. 7. Collected the amount due on the account receivable within the discount period. 8. Sold the land for $4,300. 9. Recognized accrued interest income of $450. 10. Took a physical count indicating that $6,900 of inventory was on hand at the end of the accounting period. (Hint: Determine the current balance in the inventory account before calculating the amount of the inventory write down) b. Record the events in general journal format. Assume that the perpetual inventory method and gross method is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) b. Record the events in general Journal format. Assume that the perpetual inventory method and gross method is used. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 3 4 5 6 7 8 15 Record entry inventory purchased on account from Ross company terms 2/10, 1/30. Note: Enter debits before credits Event General Journal Debit Credit Ta Record entry Clear entry View general journal