Charles and Co. completed the following merchandise transaction in the month of January of the current year:

i) January 1 Purchased inventory worth $6,500 from TJ Company, with the following terms : FOB Shipping Point, 2/10, n/ 45. The freight cost of $170 was paid on the same day.

ii) January 3 Sold merchandise worth $2,300 with transportation terms of FOB Shipping Point and credit terms of 2/7 , n /30. The cost of the merchandise sold was $1,300. The freight cost of $150 was paid on the same day.

iii) January 4 Merchandise worth $700 was returned to TJ Company.

iv) January 9 Received payment for merchandise sold on January 3.

v) January 12 Made payments for the inventories purchased from TJ Company.

Required:

Journalise the transactions that are to included in the books of Charles and Co. , using the perpetual inventory system.