Assume that a perpetual inventory system is used 1) NetSolutions sells merchandise as follows: June 15: Sold merchandise to Krane Company an account, $700, terms Fos destination. The cost of the merchandise sold was $480 June 15, NetSolutions paid freight of 540 on the sale of June 15 Journalize the entries to record the sale and the freight cost 2) Assume that the terms of the sale were FOB shipping point and that NetSolutions paid freight of $65, which was added to the involce Joumalize the entry to record the freight