Duvall Ltd. And Pele Ltd. Incurred the following merchandising transactions in June.

June 10 Duvall sold $5,000 of merchandise to Pele, terms n/30, FOB shipping point. The merchandise cost Duvall $3,000 when it was originally purchased.

June 11 Freight costs of $250 were paid by the appropriate company.

June 12 Duvall received damaged goods returned by Pele. The goods were originally sold for $500; the cost of the returned merchadise was $300.

June 19 Duvall received full payment from Pele.

Instructions:

Prepare all journal entries, in proper format for:

• the seller, Duvall Ltd. who uses the perpetual system, and
• the buyer, Pele Ltd. who uses the periodic system.