Johnnycake Restaurant Uses a Periodic Inventory System and the Gross

Essay

Johnnycake Restaurant uses a periodic inventory system and the gross method of accounting for purchases. Prepare general journal entries to record the following transactions for Johnnycake:
$$\begin{array} { | c | l | } \hline \text { Aug. 10 } & \text { Johnncake purchased merchandise on credit from Foster Foods for } \\& \begin{array} { l } \text { \$9,000, terms 2/10, n/30, FOB destination. Transportation costs of } \$ 350 \\\text { were paid by Foster. }\end{array} \\\hline 12 & \text { Johnrycake returned \$600 of merchandise from the August 10 purchase. } \\\hline 19 & \text { Johnnycake paid Foster for the August } 10 \text { purchase. } \\\hline\end{array}$$