Max ABC Company put in the following transactions in July 20x6

July 1 Sold merchandise to Su Long on credit terms 2/10 n/30 FOB Shipping Point, $4,200 (cost, $2,520)

July 3 Purchased merchandise on credit from Angier Company, terms 1/10 n/30, FOB Shipping Point, $7,600 July 5 Paid Mix Freight for freight charges on merchandise received, $580

July 6 Purchased store supplies on credit from Exto Supply Company, terms 2/10 n/20, $1,272 July 8 Purchased merchandise on credit from Ginn Company, terms 1/10 n/30, FOB Shipping Point, $7,200, which include $400 freight cost paid by Ginn Company

July 12 Returned some of the merchandise received on July 3 for credit, $1,200

July 15 Sold merchandise on credit to Pete Smith, terms 1/10 n/30, FOB Shipping Point, $2,400 (cost, $1,440)

July 16 Returned some of the store supplies purchased on July 6 for credit, $400

July 17 Sold merchandise for cash, $2,000 (cost, $1,200)

July 18 Accepted a full credit return from Su Long and returned merchandise to inventory, $400 (cost, $240)

July 24 Paid Angier Company for purchase of July 2 less return of July 12

July 25 Received full payment from Su Long for her July 1 purchase less the return on July 18

Prepare entries on journal form to record the transactions, assuming use of the (1) periodic inventory system and (2) perpetual inventory system