3 104) Dundas Desks buys desks for $80 each and sells them for $140 each. On 1 August 2016, 86 desks were in inventory Dundas Desks completed the transactions below during August Aug 2 Purchased 140 desks on account Terms: 2/10, 1/30, EXW suppler's warehouse Paid freight cost of $120 on 2 August purchase Sold 80 desks on account Terms: 3/10, /30, DOP acquirer's warehouse. Paid freight cost of $60 Returned 30 of the desks purchased on 2 August and paid the amount due on the desks retained in stock A customer returned 11 of the desks sold on 4 August. The desks were not defective and were returned to stock Purchased 72 desks on credit. Terms 2/10, 1/30, EXW supplier's warehouse. 13 Received payment from customer for the amount to on 4 August sale 13 Sold 140 desks for cash at 5120 each 20 Six of the desks sold on 18 August were returned by the customer for a cash refund. The desks were not detective , 33 Paid the supplier the amount owed for the 12 August purchase A physcal inventory count taken on 31 August 2016 showed 63 desks in stock Required A. Ignoring GST, prepare general journal entries to record the transactions assuming 1. a perpetual inventory system is used 2. a periodic inventory system is used. Narrations are not required