Cullumber Stores is a new company that started operations on March 1, 2024. The company has decided to use a perpetual inventor system. The following purchase transactions occurred in March: Mar. Cullumber Stores purchases $9,100 of merchandise for resale from Octagon Wholesalers, terms 2/10,n/30,FOB 1 shipping point. 2 The correct company pays $160 for the shipping charges, 3 Cullumber returns $1,200 of the merchandise purchased on March 1 because it was the wrong colour. Octagon gives Cullumber $1,200 credit on its account. 21 Cullumber Stores purchases an additional $14,000 of merchandise for resale from Octagon Wholesalers, terms 2/10, n/30,FOB destination. 22 The correct company pays $195 for freight charges. 23 Cullumber returns $400 of the merchandise purchased on March 21 because it was damaged. Octagon gives Cullumber a $400 credit on its account. 30 Cullumber paid Octagon theamount owing for the merchandise purchased on March1. 31. Cullumber paid Octagon the amount owing tor the merchandise purchased on March 21. Prepare Cullumber Stores'journat entries to record the above transactions. (Credit occount tities are outomaticolly indented when the amount is entered. Do not indent manually. If no entry is required, select "No Enty" for the occount titles and enter Ofor the amounts. Prepare Cullumber Stores' journal entries to record the above transactions. (Credit occount titles are outomaticolly indented when the amount is entered. Do not indent monually, if no entry is required, select "No Entry" for the account thtes and enter O for the omounts. Record Joumol entries in the order presented in the problem. (ist all debit entries before credit entries.) Post the transactions to the Merchandise Inventory account. Compare the total in this account with the total of the cash paid during March by Cullumber for the purchase of imventory, (Note. Assume there were no sales of inventory in March) (Post entries in the order of journalditries presented in the prevlous part.) Post the transactions to the Merchandise inventory account. Compare the total in tis accoumit during March by Cullumber for the purchase of inventory. (Note: Assume there were no sales of irventory in March.) (Post entrles In the order of joumol entrles presented in the previous port) Total cash payments for inventory in March