Prepare journal entries to record the following transactions for a retail store. the company uses a perpetual inventory system and the gross method.  apr.2 o purchased $4,600 of merchandise from lyon company with credit terms of 2/15, n/60, invoice dated april 2, and fob shipping point.  apr.3 o paid $300 cash for shipping charges on the april 2 purchase.  apr.4  apr. 17  apr. 18  apr. 21  apr. 28 o returned to lyon company unacceptable merchandise that had an invoice price of $600. o sent a check to lyon company for the april 2 purchase, net of the discount and the returned merchandise. o purchased $8,500 of merchandise from frist corp. with credit terms of 1/10, n/30, invoice dated april 18, and fob destination. o after negotiations, received from frist a $500 allowance toward the $8,500 owed on the april 18 purchase.

Cadbury has a chocolate factory in dunedin, new zealand. for easter, it makes two kinds of “easter eggs”: milk chocolate and dark chocolate. it cycles between producing milk and dark chocolate eggs. the table below provides data on these two products. demand (lbs per hour) milk: 500 dark: 200 switchover time (minutes) milk: 60 dark: 30 production rate per hour milk: 800 dark: 800 for example, it takes 30 minutes to switch production from milk to dark chocolate. demand for milk chocolate is higher (500lbs per hour versus 200 lbs per hour), but the line produces them at the same rate (when operating): 800 lbs per hour. a : suppose cadbury produces 2,334lbs milk chocolate and 1,652 lbs of dark chocolate in each cycle. what would be the maximum inventory (lbs) of milk chocolate? b : how many lbs of milk and dark chocolate should be produced with each cycle so as to satisfy demand while minimizing inventory?