Following are the merchandising transactions for Chilton Systems.

1.	On November 1, Chilton Systems purchases merchandise for $1,300 on credit with terms of 2/5, n/30, FOB shipping point; invoice dated November 1.
2.	On November 5, Chilton Systems pays cash for the November 1 purchase.
3.	On November 7, Chilton Systems discovers and returns $110 of defective merchandise purchased on November 1 for a cash refund.
4.	On November 10, Chilton Systems pays $65 cash for transportation costs with the November 1 purchase.
5.	On November 13, Chilton Systems sells merchandise for $1,404 on credit. The cost of the merchandise is $702.
6.	On November 16, the customer returns merchandise from the November 13 transaction. The returned items would sell for $235 and cost $118. the items were not damaged and were returned to inventory.

Journalize the following merchandising transactions for Chilton Systems assuming it uses a perpetual inventory system.

Aug.	1	Purchased merchandise from Arotek Company for $6,400 under credit terms of 1/10, n/30, FOB destination, invoice dated August 1.
	5	Sold merchandise to Laird Corp. for $4,480 under credit terms of 2/10, n/60, FOB destination, invoice dated August 5. The merchandise had cost $3,199.
	8	Purchased merchandise from Waters Corporation for $5,700 under credit terms of 1/10, n/45, FOB shipping point, invoice dated August 8. The invoice showed that at Shengs request, Waters paid the $240 shipping charges and added that amount to the bill. (Hint: Discounts are not applied to freight and shipping charges.)
	9	Paid $130 cash for shipping charges related to the August 5 sale to Laird Corp.
	10	Laird returned merchandise from the August 5 sale that had cost Sheng $533 and been sold for $747. The merchandise was restored to inventory.
	12	After negotiations with Waters Corporation concerning problems with the merchandise purchased on August 8, Sheng received a credit memorandum from Waters granting a price reduction of $861.
	14	At Aroteks request, Sheng paid $150 cash for freight charges on the August 1 purchase, reducing the amount owed to Arotek.
	15	Received balance due from Laird Corp. for the August 5 sale less the return on August 10.
	18	Paid the amount due Waters Corporation for the August 8 purchase less the price reduction granted.
	19	Sold merchandise to Tux Co. for $3,840 under credit terms of 1/10, n/30, FOB shipping point, invoice dated August 19. The merchandise had cost $2,665.
	22	Tux requested a price reduction on the August 19 sale because the merchandise did not meet specifications. Sheng sent Tux a $640 credit memorandum to resolve the issue.
	29	Received Tuxs cash payment for the amount due from the August 19 sale.
	30	Paid Arotek Company the amount due from the August 1 purchase.

Prepare journal entries to record the above merchandising transactions of Sheng Company, which applies the perpetual inventory system. (Round your answers to 2 decimal places. If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)