Problem 5: Boston Dollar Store uses the gross method to record purchase discounts and uses a perpetual inventory system. Boston engaged in the following transactions during April: Purchased $15,000 in merchandise subject to terms of 2/10, n/30. The goods were shipped f.o.b. shipping point Received a billing from Orange Freight Lines for $300 for the 4/12 purchase. Returned $1,000 of merchandise from the 4/12 purchase. Paid balances due from 4/12 purchase. 4/12 4/13 4/15 4/20 Required: Prepare journal entries to record the above transactions