Journal use the following transactions that occurred in January 2018 for Sylvia's Amusements, wming the perpetua inventory system is being used. No explanations are needed entity such accounts payable and counts receivable with the vendor or customer name Sylvia estimates sales returns at the end of each month. (Record debit first, then credits Exclude explanations from altres. Assume the company records the amount) Co the boon to view the transactions) Punachanteur Vand C E O FOR More Info Jan. 4 Purchased merchandise inventory on account from Vanderbilt Company $7,000. Terms 1/10, n/EOM, FOB shipping point. 6. Paid freight bill of $100 on January 4 purchase. 8 Returned half of the inventory purchased on January 4 from Vanderbilt Company 10 Sold merchandise inventory for cash, $1,600. Cost of goods, $640. FOB destination. 11 Sold merchandise inventory to Graceland Corporation, $10,800, on account, terms 1/10, n/EOM. Cost of goods, $5,400. FOB shipping point. 12 Paid freight bill of $60 on January 10 sale. 13 Sold merchandise inventory to Cabbell Company, $9,500 on account, terms of n/45. Cost of goods, $5,225. FOB shipping point. 14 Paid the amount owed on account from January 4, less return and discount. 17 Received defective inventory as a sales return from the January 13 sale. $600. Cost of goods, $300. 18 Purchased inventory of $4,600 on account from Roberts Corporation. Payment terms were 3/10, n/30, FOB destination. 20 Received cash from Graceland Corporation, less discount. 26 Paid amount owed on account from January 18, less discount. 28 Received cash from Cabbell Company, less return. 29 Purchased inventory from Sandra Corporation for cash, $11,600, FOB shipping point. Freight in paid to shipping company, $240. [Print Done continue to the next question. Journal use the following transactions that occurred in January 2018 for Sylvia's Amusements, wming the perpetua inventory system is being used. No explanations are needed entity such accounts payable and counts receivable with the vendor or customer name Sylvia estimates sales returns at the end of each month. (Record debit first, then credits Exclude explanations from altres. Assume the company records the amount) Co the boon to view the transactions) Punachanteur Vand C E O FOR More Info Jan. 4 Purchased merchandise inventory on account from Vanderbilt Company $7,000. Terms 1/10, n/EOM, FOB shipping point. 6. Paid freight bill of $100 on January 4 purchase. 8 Returned half of the inventory purchased on January 4 from Vanderbilt Company 10 Sold merchandise inventory for cash, $1,600. Cost of goods, $640. FOB destination. 11 Sold merchandise inventory to Graceland Corporation, $10,800, on account, terms 1/10, n/EOM. Cost of goods, $5,400. FOB shipping point. 12 Paid freight bill of $60 on January 10 sale. 13 Sold merchandise inventory to Cabbell Company, $9,500 on account, terms of n/45. Cost of goods, $5,225. FOB shipping point. 14 Paid the amount owed on account from January 4, less return and discount. 17 Received defective inventory as a sales return from the January 13 sale. $600. Cost of goods, $300. 18 Purchased inventory of $4,600 on account from Roberts Corporation. Payment terms were 3/10, n/30, FOB destination. 20 Received cash from Graceland Corporation, less discount. 26 Paid amount owed on account from January 18, less discount. 28 Received cash from Cabbell Company, less return. 29 Purchased inventory from Sandra Corporation for cash, $11,600, FOB shipping point. Freight in paid to shipping company, $240. [Print Done continue to the next