Exercise $8\mathrm{.}5($Static$)$ Recording purchases made with trade discounts. LO $8-1$Required:Record the following transactions of Fabulous Fashions:Note: Round your answers to $2$ decimal places.DATETRANSACTIONSMarch $8,20$X$1$Purchased merchandise on credit from Aeryn Designs, Invoice $1091,$ list price $$6,000,$ trade discounts of $20$ and $10$ percent; terms $3/10,$ n$/30.$March $17,20$X$1$Paid the amount owed on the purchase of March $8$ from Aeryn Designs, less the $3$ percent discount, Check $185.$