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. 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.) Feb. 3: Purchased $3,200 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point from Sue's Shoppe. Date Accounts Debit Credit Feb. 3 ho - X More info Feb. 3 Purchased $3,200 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point from Sue's Shoppe Returned $400 of defective merchandise purchased on February 3. Feb. 7 Feb. 9 Paid freight bill of $500 on February 3 purchase. Feb. 10 Sold merchandise inventory on account for $5,000 to Tristan's Sanctuary. Payment terms were 1/15, n/30. These goods cost the company $2,500. Feb. 12 Paid amount owed on credit Purchase of February 3, less the return and the discount. Feb. 28 Received cash from Tristan's Sanctuary in full settlement of their debt