K Submit quiz Grooving Giving Gift Shop uses a perpetual inventory system Journalize the following transactions for Grooving Giving Gift Shop. Explanations are not required (Recent debits first then credits Exclude explanations from journal entries Assume the company records sales at the not amount Round all numbers to the nearest while dollar) (Click the icon to view the transactions.) Feb. 3: Purchased $3,400 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping point from Sue's Shoppe Date Feb. 3 Accounts Feb 7: Returned $500 of defective merchandise purchased on February 3 Date Feb 7 Accounts Debit Credit Debit Credit