4. Barnes Uility Company uses the perpetual inventory system and had the following sales transactions during the month of July: July 12 July 15 July 22 Sold merchandise to ABC Corp on credit for $4,800, terms 2/15, n/30 ABC Corp returned ABC Corp paid for the merchandise sold on July 12 less the return, taking any The items sold had a cost of $2,700 merchandise that had a selling price of $200. The cost of the merchandise returned was $110 appropriate discount earmed (6 points) Prepare the journal entries that Barnes Utility Co. must make to record these transactions. Date Credit