3 points eBook Print The following information is available for the Johnson Corporation: Beginning inventory Inventory purchases (on account) Freight charges on purchases (paid in cash) Inventory returned to suppliers (for credit) Ending inventory Sales (on account) Cost of inventory sold Required: $ 25,000 155,000 10,000 12,000 30,000 250,000 148,000 Applying both a perpetual and a periodic inventory system, prepare the journal entries that summarize the transactions that created these balances. Include all end-of-period adjusting entries indicated. 2 3 4 5 6 Record merchandise purchased on account for $155,000. Note: Enter debits before credits Transaction 1 General Journal Debit Credit Print Journal entry worksheet 1 2 3 5 6 Record the payment of $10,000 in cash for freight charges. Note: Enter debits before credits. Transaction 2 General Journal Debit Credit eBook Print Journal entry worksheet < 1 2 3 4 5 6 Record merchandise returned to supplier for credit of $12,000. Note: Enter debits before credits Transaction General Journal Debit Credit Print Journal entry worksheet < 1 23 4 5 Record sales on account of $250,000. Note: Enter debits before credits Transaction General Journal Debit Credit < 1 2 3 5 6 Record cost of merchandise sold of $148,000. Note: Enter debits before credits Transaction 5 General Journal Debit Credit Print Journal entry worksheet < 1 2 3 4 5 6 Record the end-of-period adjusting entry. Ending Inventory is $30,000. Note: Enter debits before credits. Transaction 6 General Journali Debit Credit