Question 2 please answer

Consider the following transactions for Bannon Drug Store: February 2 Bannon buys $20, 100 worth of inventory on account with credit terms of 2/15, n/60, FOB shipping point. February 4 Bannon pays a $150 freight charge. February 9 Bannon returns $3,700 of the merchandise due to damage during shipment. February 14 Bannon pays the amount due, less return and discount. Required Requirement 1. Journalize the purchase transactions. Explanations are not required. (Assume the company uses a perpetual inventory system. Record debits first, then credits. Exclude explanations from journal entries.) Feb. 2: Bannon buys $20, 100 worth of inventory on account with credit terms of 2/15, n/60, FOB shipping point. Prepare the entry to journalize the purchase. Date Accounts Debit Credit February 2 - X Required 1. Journalize the purchase transactions. Explanations are not required. 2. In the final analysis, how much did the inventory cost Bannon Drug Store? Print Done lator Clear all Check