Johnson Company returned 20 of the tables purchased in PE 7-5 because of defects in assembly. Make the journal entry necessary to record this return under

(1) A perpetual inventory system and

(2) A periodic inventory system.

Data from PE 7-5

Johnson Company purchased (on account) 250 tables to be resold to customers. The cost of each table was $150. Make the journal entry to record this transaction under (1) a perpetual inventory system and (2) a periodic inventory system.