Journalize the following merchandising transactions for Chilton Systems assuming it uses

(a) a periodic inventory system and

(b) a perpetual inventory system. 1. On November 1, Chilton Systems purchases merchandise for $1,500 on credit with terms of 2 5, n 30, FOB shipping point; invoice dated November 1. 2. On November 5, Chilton Systems pays cash for the November 1 purchase. 3. On November 7, Chilton Systems discovers and returns $200 of defective merchandise purchased on November 1 for a cash refund. 4. On November 10, Chilton Systems pays $90 cash for transportation costs with the November 1 purchase. 5. On November 13, Chilton Systems sells merchandise for $1,600 on credit. The cost of the merchandise is $800. 6. On November 16, the customer returns merchandise from the November 13 transaction. The returned items sell for $300 and cost $150.