This question was created from Given below are account balances for Charlie Company.docx

Question 5 18 points)
Alpha Company used the periodic inventory system for purchase & sales of merchandise . Discount terms
for both purchase & sales are , FOB Destination , 2 /10, 1730 and the gross method is used .
* Alpha Company sold on account $ 2, 500 of merchandise to Bravo Company on May 2, 2016 . Selling*
price was $ 4, 000. Freight charges related to this transaction of $ 150 were paid by Alpha Company .
* Bravo Company returned , to Alpha Company . $ 250 of this merchandise on May 3 , 2016 . Merchandise*
was sold for $ 400
USE this information to prepare Alpha Company’s General Journal Entries ( without explanation ; for May
2 & May 3 entries . If no entry is required then write " NO Entry Required . "