Jun 4 Willem Corporation purchased $4,000 worth of merchandise, terms n/30 from Cate Corporation. The cost of the merchandise to Cate was $2,600. Returns are estimated at 15%. 10 Willem returned $700 worth of goods to Cate for full credit. The goods had a cost of $450 to Cate and were placed back into inventory. 26 Willem paid the account. Instructions Prepare the journal entries to record these transactions in (a) Willems records and (b) Cates records. Both companies use the perpetual inventory system.