Answer:
Apr. 2 Purchased $4,600 of merchandise from Lyon Company with credit terms of 2/15, n/60, invoice dated April 2, and FOB shipping point.
Dr Merchandise inventory 4,600
  Cr Accounts payable 4,600
3 Paid $300 cash for shipping charges on the April 2 purchase.
Dr Merchandise inventory 300
  Cr Cash 300
4 Returned to Lyon Company unacceptable merchandise that had an invoice price of $600.
Dr Accounts payable 600
  Cr Merchandise inventory 600
17 Sent a check to Lyon Company for the April 2 purchase, net of the discount and the returned merchandise.
Dr Accounts payable 4,000
  Cr Cash 3,920
  Cr Purchase discounts 80
18 Purchased $8,500 of merchandise from Frist Corp. with credit terms of 1/10, n/30, invoice dated April 18, and FOB destination.
Dr Merchandise inventory 8,500
  Cr Accounts payable 8,500
21 After negotiations, received from Frist a $500 allowance toward the $8,500 owed on the April 18 purchase.
Cr Accounts payable 500
  Cr Purchase allowances 500
28 Sent check to Frist paying for the April 18 purchase, net of the allowance and the discount.
Dr Accounts payable 8,000
  Cr Cash 7,920
  Cr Purchase discounts 80
