During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows:

During the months of January and February, Axe Corporation purchased goods from three suppliers. The sequence of events was as follows:

Jan. 6	Purchased goods for $2,400 from Green with terms 2/10, n/30.
6	Purchased goods from Munoz for $2,100 with terms 2/10, n/30.
14	Paid Green in full.
Feb. 2	Paid Munoz in full.
28	Purchased goods for $950 from Reynolds with terms 2/10, n/45.

Required:

Prepare journal entries to record the transactions, assuming Axe uses a perpetual inventory system. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Explanation: Jan.14: Inventory = $2,400 × 2% = $48 Cash = $2,400 × 98% = $2,352