Instructions For each transaction below ("a" through "g"), record the necessary journal entry. Your business is using a perpetual inventory system, which means they record journal entries for changes in their inventory on a daily basis (as each transaction occurs). Utilize the "Chart of Accounts" below for help in choosing accounts for each entry Chart of Accounts Cash Accounts Receivable Supplies Inventory Prepaid Rent Vehicles Accounts Payable Deferred Revenue Wages Payable Notes Payable Common Stock Retained Earnings Sales Revenue Sales Returns & Allowances Service Revenue Cost of Goods Sold Insurance Expense Rent Expense Supplies Expense Wage Expense a) On 12/2, you obtained a loan from Wells Fargo for $40,000. Debit Credit Date Account Description 12/2/20 b) On 12/5, you purchased 700 pairs of yoga pants for $5 per pair, paying for the pants in cash. Debit Credit Date Account Description 12/5/20 C) Due to perceived strong demand for your yoga pants, on 12/8, you purchased another 400 pairs of yoga pants for $5 per pair, paying for the pants in cash. Debit Credit Date Account Description 12/8/20 d) On 12/15, your company makes it's first sale, selling 200 pairs of yoga pants to Lululemon for $32 per pair. The sale is made on account, and to encourage prompt payment you provide payment terms to Lululemon of 2/10, n/30. Debit Credit Date Account Description 12/15/20 12/15/20 e) On 12/18, Lululemon returns 15 pairs of pants that were defective. Debit Credit Account Description Date 12/18/20 12/18/20 f) On 12/31, paid December's rent of $2,000 in cash. Debit Credit Date Account Description 12/31/20 3) On 12/31, received payment for the 185 yoga pants sold (200 pairs sold on 12/15, 15 returned on 12/18). Date Account Description 12/31/20 Debit Credit