Bala Company completed the following merchandising transactions in the month of March 2020. Mar Purchased merchandise from KK Co. on account for $20,000, terms 2/10, n/30; FOB shipping point. The appropriate party paid $300 freight on Mar 3. 5 Sold merchandise for cash $1,500. The cost of the merchandise sold was 60% of sales revenue. The customer came to pick up the product at the company. 6 Sold merchandises to Dova on account for $8,200, terms 5/10, n/30; FOB shipping point. The appropriate party paid $40 freight on Mar 7. The cost of merchandise sold was 70% of sales revenue. 8 Accepted a return of defective merchandise from Dova-Allowances granted was $500. 11 account for $9,000; terms 3/10, n/30; FOB Purchased merchandises from JJ on destination. The appropriate party paid $250 freight on May 12. 13 Paid KK Co. in full. Received payment in full from Dova. Purchased Office Equipment for 15 18 $5,000 on account. 21 Paid JJ in full. Instructions: (Explanations are not required for your journal entries but skip one line before entering a new entry.) 2. Journalize the March transactions using a Periodic inventory system. General Journal Date Account titles Debit Credit