Four: (20 points) Ceres Computer Sales uses the perpetual inventory system and had the following transactions during December: Dec.1 Sold merchandise to Happy Hobby Shop on credit for $10,000, terms 3/10, n/30. The items sold had a cost of $7,000. (FOB shipping point). 3 Purchased merchandise on credit for $2,600, terms 1/20, n/30. 5 Happy Hobby Shop returned merchandise that had a selling price of $600. The returned items had a cost of $420. 8 Paid shipping charges of $400 for merchandise purchased on December 3. 10 Received payment for merchandise sold to Happy Hobby Shop. 15 Returned $1,200 worth of defective merchandise purchased on December 3. 21 Paid for the merchandise purchased December 3. Required: Prepare journal entries to record each of the preceding transactions