E5-21 (similar to) Question Help Vintage World uses a perpetual inventory system. Joumalize the following sales transactions for Vintage World. Explanations are not required. The company estimates sales returns at the end of each month. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar.) (Click the icon to view the transactions.) Merchandise Inventory Jan. 20: Vintage World paid $140 on freight out. Date Accounts Jan. 20 Delivery Expense Cash 2,700 More Info Debit Credit Jan. 4 Sold $13,000 of antiques on account, credit terms are n/30. Cost of goods is $6,500. 140 Jan. 8 140 Received a $100 sales return on damaged goods from the customer. Cost of goods damaged is $50. Vintage World received payment from the customer on the amount due Jan. 13 from Jan. 4, less the return. Sold $5,400 of antiques on account, credit terms are 1/10, n/45, FOB destination. Cost of goods is $2,700. Jan. 20 Jan. 29: Received payment from the customer on the amount due from Jan. 20, less the discount. Jan. 20 Vintage World paid $140 on freight out. Date Accounts Debit Credit Received payment from the customer on the amount due from Jan. 20, Jan. 29 less the discount. Jan. 29 Accounts Payable 5,346 Cash 5292 Print Done Purchase Discounts 54