TRANSACTIONS FOR REQUIREMENT (1): Presented below are selected inventory transactions pertaining to Tri Sports Gear, Inc. for the montnom March 2020: Mar. 2 Purchased $58,700 of merchandise on account from RunQuick, terms 1/10, net 30, FOB Destination Returned $28,000 of merchandise to RunQuick for credit on account. Sold $6,250 of merchandise for cash, FOB Destination. Cost of merchandise was $3,375. Paid $375 to UPS for shipping cost related to merchandise sold on March 6. Paid RunQuick the balance due from the March 2 purchase less the March 5 return (hint: payment is within the discount period). Sold $19,600 of merchandise on credit to the USA Olympic triathlon team, terms 2/10, net 30, FOB Shipping Point. Cost of merchandise was $8,820. Purchased merchandise from Specialized Bikes, $23,450 cash, FOB Shipping Point. The USA team returned $4,000 of merchandise sold on March 12 for credit on their account. Cost of merchandise returned $1,800. Paid $240 to FedEx for shipping cost related to purchase on March 13. Received payment in full from the USA team for the balance due from the March 12 sale less the March 19 return (hint: payment received within the discount period). COMPREHENSIVE PROBLEM 2 (CHAPTERS 2, 5, 6, 8) Page 127 DATE GENERAL JOURNAL ACCOUNT TITLES REQUIREMENT (1) JOURNAL ENTRIES DEBIT CREDIT 2020