March 4 Stephen Company sold $3,000 of merchandise on account to Elijah Company. The credit terms were 2/10, n/60. The cost of the merchandise was $1,800. March 6 Elijah Company paid transportation cost of $100 on the March 4 purchase from Stephen Company. March 8 Stephen Company sold $2,000 of merchandise on account to Elijah Company. The credit terms were n/40. The cost of the merchandise was $1,400. March 10 Stephen Company paid transportation cost of $100 for delivery of merchandise sold to Elijah Company on March 8. March 16 Stephen Company issued Elijah Company a $400 credit memorandum for merchandise returned because the merchandise was damaged. The merchandise was purchased by Elijah Company on account on March 8. The cost of the merchandise returned was $280. March 18 Stephen Company received payment from Elijah Company for purchase of March 8. March 21 Stephen Company sold $4,800 of merchandise on account to Elijah Company. The credit terms were 2/10, n/30. The cost of the merchandise was $2,880. March 22 Stephen Company received payment from Elijah Company for purchase of 4 March. March 31 Stephen Company received payment from Elijah Company for purchase of 21 March Required: (45 marks) Prepare all necessary journal entries to record the transactions for Stephen Company. Assume that Stephen Company used perpetual inventory system (Narratives are not required)