A. Prepare a journal entry of the the following transactions. (Periodic and Perpetual) 1. Purchase of Merchandise on Account, Php 300,000. 2. Payment of Freight on purchases, Php 20,000. 3. Return of Merchandise purchased to supplier, Php 30,000. 4. Sale of Merchandise on account, Php 400,000, at 40% Gross Profit. 5. Return of Merchandise sold from customer, Php 25,000 B. Compute the Cost of Goods Sold (Purchase and Sales) C. Prepare the lapsing schedule