A. (30 pts.) Mercury Co. is a retail store that sells floor tiles. Mercury Co. uses a perpetual inventory system, and gross method. Mercury's sales and related transactions in July 2012 were: July 12 Sold 80 boxes of floor tiles for $44 per box, $3,520 total on credit, terms July 18 Two boxes of floor tiles were returned for $88 credit. The cost of the July 22Received payment for the floor tiles sold on July 12th, less the returns 2/10 n. 30. The cost of the floor tiles sold was $2,820. floor tiles returned was $71, they were returned to inventory and discount. Required: 1. Prepare journal entries for the three transactions above. 2. Prepare journal entries for the three transactions above, assuming Mercury Co. uses the net method