Account Titles Cash Inventory Common Stock Retained Earnings Total Debit Credit $14,890 3,160 $ 7,420 10,630 $18,650 $18,050 The following events affected the company during the Year 2 accounting period: 1. Purchased merchandise on account that cost $4,230. 2. The goods in Event 1 were purchased FOB shipping point with freight cost of $235 cash. 3. Returned $495 of damaged merchandise for credit on account. 4. Agreed to keep other damaged merchandise for which the company received an $275 allowance. 5. Sold merchandise that cost $2,580 for $13,400 cash. 6. Delivered merchandise to customers in Event 5 under terms FOB destination with freight costs amounting to $105 cash 7. Paid $2,890 on the merchandise purchased in Event 1 8. Paid $8,800 cash for operating expenses Required a. Record the events in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)