Based on the information below:

a$.$ Seller sold merchandise on account to the buyer, $$4,750,$ terms $\frac{n}{30},$ FOB shipping point. The cost of the merchandise is $$2,850.$ The seller prepays the freight of $$75.$

b$.$ Buyer returns $$700$ of merchandise as defective. The cost of the merchandise is $$420.$

c$.$ Buyer pays the balance owed for the purchase.

Journalize the entries for the Seller using a perpetual inventory system. If no entry is required, select $"$No entry required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.

a

b

C

Journalize the entries for the Buyer using a perpetual inventory system. If no entry is required, select $"$No entry required" and leave the amount boxes blank. If an amount box does not require an entry, leave it blank.

a