THP Ch. 5-6 Test 3 - Microsoft Word (Product Activation Failed) 3bCcDd AaBbCcDd AaBbcc A ab Aa Bb Cc AaBbCcDdE AaBbCcDdE AaBbCcDdi AaBbCcDdl AaBbCcDd. Hormal 1 No Spacing Heading 2 Title Subtitle Subtle Emp. Emphasis intense Emp Strong Styles Quote PROBLEM #1: Prepare the journal entries to record the following transactions on Manchester Company's books using a perpetual inventory system. On February 6, Manchester Company sold $75,000 of merchandise to the Lyndon Company, terms 2/10, net /30. The cost of the merchandise sold was $50,000. On February 8, the Lyndon Company returned $10,000 of the merchandise purchased on February 6. The cost of the merchandise returned was $5,000. On February 16 Manchester Company received the balance due from the Lyndon Company. Problem #2: June 4 Barrel Company purchased $7,000 worth of merchandise, terms n/30 from Harden Company. The cost of the merchandise was $4,900. Barrel returned $500 worth of goods to Harden for full credit. The goods had a cost of $350 to Hardon 12