Journal Entries for Merchandise Transactions on Seller's and Buyer's Books-Periodic System Fame Distributing Company had the following transactions with Arlington, Inc., during November: \begin{tabular}{|l|l|l|} \hline Nov. & 10 & Fame sold and shipped $8,000 worth of merchandise to Arlington Inc., terms 2/10,n/30. \\ \hline 12 & Arlington, Inc. paid freight charges on the shipment from Fortune Company, $450. \\ \hline 14 & Fame received $850 of merchandise returned by Arlington from the November 10 sale. \\ \hline 19 & Fame received payment in full for the net amount due on the November 10 sale. \\ \hline 24 & Arlington returned goods that had been billed originally at $700. Fortune issued a check for $686. \\ \hline \end{tabular} Required Prepare the necessary journal entries (a) on the books of Fame Distributing Company and (b) on the books of Arlington, Inc. Assume that both companies use the periodic inventory system