Current Attempt in Progress Cullumber Stores is a new company that started operations on March 1, 2021. The company has decided to use a perpetual inventory system. The following purchase transactions occurred in March: Mar. Cullumber Stores purchases $9,200 of merchandise for resale from Octagon Wholesalers, terms 2/10, 1/30, FOB shipping 1 point 2 The correct company pays $160 for the shipping charges Cullumber returns $1,200 of the merchandise purchased on March 1 because it was the wrong colour. Octagon gives 3 Cullumber a $1.200 credit on its account. 21 Cullumber Stores purchases an additional $14,000 of merchandise for resale from Octagon Wholesalers, terms 2/10, 1/30, FOB destination 22 The correct company pays $170 for freight charges. Cullumber returns $450 of the merchandise purchased on March 21 because it was damaged. Octagon gives Cullumber a 23 $450 credit on its account. 30 Cullumber paid Octagon the amount owing for the merchandise purchased on March 1. 31 Cullumber paid Octagon the amount owing for the merchandise purchased on March 21. (a) Prepare Cullumber Stores journal entries to record the above transactions. (Credit account titles are automatically incantadia the amount is entered. Do not indent manually. If mannen Blossom Company commenced operations on July 1. Blossom Company uses a periodic inventory system. During July, Blossom Company was involved in the following transactions and events: July 2 Purchased $14,000 of merchandise from Suppliers Inc. on account, terms 2/10, 1/30, FOB shipping point 3 Returned $1,200 of merchandise to Suppliers Inc, as it was damaged. Received a credit on account from Suppliers, 4 Paid $500 of freight costs on July 2 shipment. 8 Sold merchandise for $2,000 cash. 11 Paid Suppliers Inc. the full amount owing. 15 Sold merchandise for $6,000 on account, 1/10,n/30, FOB shipping point 25 Received full payment for the merchandise sold on July 15 31 Blossom did a physical count and determined there was $9,500 of inventory on hand, (a) Record the transactions in Blossom Company's books. (Credit account titles are automatically indented when the amount is