Ceres Computer Sales uses the perpetual inventory system and had the following transactions during the month of August. Required: a. Prepare the general journal entries to record these transactions. (Explanations are NOT required.) Aug. 4 Purchased merchandise on credit for $8,000 with terms of 2/10, n/30. 7 Received a credit memo of $500 for return of faulty merchandise purchased on December 4. 10 Sold merchandise for $17,000 on credit with terms of 1/20,n/30. The items cost $10,200. 13 Made payment of balance due for purchase of Aug. 4. 20 Purchased merchandise for cash of $3,200. 22 Paid freight charges of $300 for merchandise previously received. GENERAL JOURNAL Account Titles and Explanation Date 8/4 8/7 b. Assume the beginning inventory is $14,800. Calculate the ending inventory balance at Aug. 31. (Show calculations.) Merchandise Inventory 14,800 Beg, Balance Endine Balance