1. Bacon LLC purchases inventory on account from Target on Feb 1^st with credit terms 2/10, n/60. The sales price of inventory is $8,500. Target originally paid $4,900 for the same inventory. The customer was upset that some of the inventory was damaged, so Target granted a $2,300 credit allowance on Feb 7^th.
   1. Please record all of Bacon LLCs journal entries based on perpetual inventory system. Assume the customer paid by Feb 9^th.
2. 2. Please record all of Targets journal entries based on perpetual inventory system. Assume the customer paid by Feb 28^th.