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3) Abe's Printing Supply Company uses a perpetual inventory system. The company had the following transactions during August 2019: (9 POINTS) Aug. 5: Purchased $2,900

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3) Abe's Printing Supply Company uses a perpetual inventory system. The company had the following transactions during August 2019: (9 POINTS) Aug. 5: Purchased $2,900 of merchandise on account, Freight and credit terms were FOB shipping point, 3/15, n/60. Aug. 9: Paid transportation costs of $440 for the Aug. 5 purchase. Aug. 10: Returned $600 of defective merchandise that had been purchased on Aug. 5. Aug 15: Paid for the merchandise purchased on Aug. 5. Prepare journal entries for August 10 and 15. Omit explanations

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