Gift shop uses perpetual inventory system. Journalize following transactions. Explanation not required. Feb 3 purchased $3000 of merchandise inventory on Acct under terms 1/10, n /EOM and FOB Shipping Point. Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar.

Feb. 3 Purchased $3,000 of merchandise inventory on account under terms 1/10, n/EOM and FOB shipping point. 7 Returned $400 of defective merchandise purchased on February 3. 9 Paid freight bill of $500 on February 3 purchase. 10 Sold merchandise inventory on account for $4,400. Payment terms were 3/15, n/30. These goods cost the company $2,200. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. 28 Received cash from February 10 customer in full settlement of their debt