Journalize the following transactions. Assume the perpetual inventory system. C December 4: Sold merchandise for $350 cash. The cost of merchandise was $200. Begin by joumalizing the revenue from the sale of merchandise. Do not record the cost of the sale yet. We will do that in the following step. Date Dec. 4 Journal Entry Accounts PR Dr. Cr. Now journalize the cost of the merchandise sold. Date Dec. 4 Journal Entry Accounts PR Dr. Cr. More info 201X Dec. 4 Sold merchandise for $350 cash. The cost of merchandise was $200. 9 Purchased merchandise from Red Co. on account, $3,500, F.O.B. shipping point (buyer pays freight); terms 7/10, n/30. Freight to be paid on December 20. 20 Paid freight on December 9 purchase, $60. Print Done December 9: Purchased merchandise from Red Co. on account, $3,500, F.O.B. shipping point (buyer pays freight); terms 7/10, n/30. Freight to be paid on December 20. Journal Entry Date Dec. 9 Accounts PR Dr. Cr. Screenshot Journalize the following transactions. Assume the perpetual inventory system. Now journalize the cost of the merchandise sold. Date Dec. Journal Entry Accounts PR Dr. Cr. December 9: Purchased merchandise from Red Co. on account, $3,500, F.O.B. shipping point (buyer pays freight); terms 7/ Journal Entry Date Dec. Accounts PR Dr. Cr. 9 December 20: Paid freight on December 9 purchase, $60. Date Dec. 20 Journal Entry Accounts PR Dr. Cr. Screenshot More info 201X Dec. 4 Sold merchandise for $350 cash. The cost of merchandise was $200. 9 Purchased merchandise from Red Co. on account, $3,500, F.O.B. shipping point (buyer pays freight); terms 7/10, n/30. Freight to be paid on December 20. 20 Paid freight on December 9 purchase, $60. Print Done