Bushnell Company (buyer) and Schiff, Inc. (seller), engaged in the following transactions during February 201 : Bushnell Company DATE TRANSACTIONS 201 Feb.10 Purchased merchandise for $5,500 from Schiff, Inc., Invoice 1980, terms 1/10,n/30. 13 Received Credit Memorandus 230 from schiff, Inc., for damaged merchandise totaling $600 that was returned; the goods were purchased on Invoice 1980, dated February 10. 19 Paid amount due to Schiff, Ine., for Invoice 1980 of February 10, less the return of February 13 and 1 ess the canh discount, Check 2010 . Schiff, Inc. DATE TRANSACTIONS 201 Feb. 10 sold merchandise for $5,500 on account to Bushnel1 Company, Invoice 1980, terms 1/10, n/30, The cost of therehand fie nold was $4,400. 13 Issued Credit Memorandun 230 to Dushne11 Company for dasaged nerohandise totaling $600 that was returned the goods were purchased on Involce 1980 , dated Yebruary 10. The cost of the returned goods was $480. 19 Received payment from Bushne11 Company for Invoice 1980 of February 10 , lesa the return of rebruary 13 and lesa the cash discount, check 2010. Required: Both companies use the perpetual inventory system. Journalize the transactions above in a general journal for both Bushnell and Schiff, Inc. Journal entry worksheet Purchased merchandise for $5,500 from Schiff, Inc., Invoice 1980 , terms 1/10, n/30. Note: Enter debits before credits. Journal entry worksheet Received Credit Memorandum 230 from Schiff, Inc., for damaged merchandise totaling $600 that was returned; the goods were purchased on Invoice 1980, dated February 10. Note: Enter debits before credits. Journal entry worksheet Paid amount due to Schiff, Inc., for Invoice 1980 of February 10, less the return of February 13 and less the cash discount, Check 2010. Note: Enter debits before credits. Journal entry worksheet 2 5 Sold merchandise for $5,500 on account to Bushnell Company, Invoice 1980 , terms 1/10,n/30. Note: Enter debits before credits. Journal entry worksheet 5 Note: Enter debits before credits. Journal entry worksheet Issued Credit Memorandum 230 to Bushnell Company for damaged merchandise totaling $600 that was returned; the goods were purchased on Invoice 1980, dated February 10. Note: Enter debits before credits. Journal entry worksheet The cost of the returned goods was $480. Note: Enter debits before credits. Journal entry worksheet Received payment from Bushnell Company for Invoice 1980 of February 10 , less the return of February 13 and less the cash discount, Check 2010. Note: Enter debits before credits