2 Journalize each of the following transactions assuming a perpetual inventory system. Aug. 2 Purchased $14,000 of merchandise inventory, terms 1//5,n//15. 4 Received a credit memorandum from the supplier confirming a $1,500 allowance regarding the August 2 purchase. 17 Paid for the August 2 purchase, less the allowance. Question 3 Prepare journal entries to record each of the following transactions of a merchandising company. Show any supporting calculations. Assume a perpetual inventory system. Mar. 5 Purchased 500 units of product with a list price of $5 per unit. The purchaser was granted a trade discount of 20% and the terms of the sale were 2//10,n//60. 7 Returned 50 defective units from the March 5 purchase and received full credit