Directions: Journalize the following transactions on the books of the purchaser and seller assuming they both use a perpetual inventory system. Transactions: 10/2 - Costco, Inc. sold merchandise to MSK, Inc. for $470, terms 2/10, n/30 - FOB destination (inventory sold cost Costco $200). 10/2 - Appropriate party paid shipping cost of $30 to UPS to ship inventory to purchaser. 10/4 - MSK, Inc. returned $70 in inventory to Costco. The inventory was not defective and Costco will resale it to another customer (Costco, Inc.'s original cost for the returned merchandise was $50.) 10/12 - MSK, Inc. took advantage of the discount and remitted the amount owed to Costco