Below are transactions from trading company PT DEF 1-Feb-21 Purchased goods from PT. ABC for $700 in debt with credit term 1/10, n/30. There is a transportation fee of $50 charged to the buyer and paid in cash 3-Feb-21 Company returned part of goods to PT ABC for $100 7-Feb-21 The company pays to PT ABC for the purchase on 1 Feb 2021 8-Feb-21 Company successfully sold $800 of merchandise for inventory $400 on account receivable with credit terms 3/10, n/30 9-Feb-21 There is a $120 return on merchandise sold on Feb 8, 2021 for $70 worth of inventory 13-Feb-21 Received payment of debt from sale on Feb 8, 2021 28-Feb-21 Company has a total of $500 in inventory records, after doing stock opname should stock only $400 a. Prepare journal entries to record these transactions b. The company has information at the end of February 2021 for all costs and revenues incurred in the company as follows, make closing journal entries Sales Revenue 8,500 COGS 3,500 Salaries and Wages Expenses 1,000 Utilities Expenses 500 Advertising Expenses 400 Sales Return and Allowances 780 Sales Discounts 550 Depreciation Expenses 300 Freight-Out 50 Insurance Expenses 20 Dividend 100