WP Chapy Chapter 5 Question 2 of 5 < > Current Attempt in Progress Your answer is partially correct. 2.04/3 E Prepare the journal entries to record the following purchase transactions in Marigold Inc's books. Marigold uses a perpetual inventory system. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Jan. 2 Marigold purchased goods for $58,500 from Fundy Corp., terms n/45, FOB destination. 5 The appropriate company paid freight costs of $1,220. 6 Marigold returned $7,800 of the goods purchased on January 2, because they were not needed. 11 Marigold paid the balance owed to Fundy. Date Account Titles and Explanation Jan. 2 Inventory Accounts Payable Jan. 5 Freight Out Cash Debit 58500 1220 Jan. 6 Accounts Payable 7800 Credit 58500 1220 1 A