Business accounting 1 Assignment 26/1/2021 Suppose Farah did the following: . 1/12/2020: Farah bought merchandise (purchase of goods) for 10350$ on account from Loulou company (4/15,n 30) . 14/12/2020: 2300$ Merchandise has been returned to Loulou. . 15/12/2020 Cash paid for Loulou account. Instructions: Prepare journal entry at the buyer and seller using perpetual and periodic inventory system, assuming that the profit margin of loulou is 15%