Grooving Giving Gift Shop uses a perpetual inventory system. Journalize the following transactions for Grooving Giving Gift Shop. Explanations are not required. (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.) CERE Feb. 3. Purchased $3,500 merchandise inventory on account under terms 1/10, n/EOM and FOB shipping point from Silo's Goods. Date Accounts Debit Credit Feb. 3 Feb. 7: Returned $500 of defective merchandise purchased on February 3. More info Date Accounts Debit Credit Feb. 7 Feb. 3 Purchased $3,500 of merchandise inventory on account under terms 1/10, n/EOM and FOB shipping point from Silo's Goods. Feb. 7 Returned $500 of defective merchandise purchased on February 3. Feb. 9 Paid freight bill of $100 on February 3 purchase. Feb. 10 Sold merchandise inventory on account for $4,300 to Tinsle Town. Payment terms were 2/15, n/30. These goods cost the company $2,150. Feb. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. Feb. 28 Received cash from Tinsle Town in full settlement of their debt. Feb. 9: Paid freight bill of $100 on February 3 purchase. Date Accounts Debit Credit Feb. 9 Print Done Feb. 10: Sold merchandise inventory on account for $4,300 to Tinsle Town. Payment terms were 2/15, n/30. These goods cost the company $2,150. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step. Date Accounts Debit Credit Feb. 10 Now journalize the expense related to the February 10 saleCost of goods, S2,150. Date Accounts Debit Credit Feb. 10