Microsoft Corporation uses the perpetual imventory system. Please create joumal entries for the following imventory transactions. Show any necessary work/calculations. - March 2- Purchased on account $9,300 of imventory for resale. Credit terms 2/10,n/30. FOB shipping point. - March 3 - Paid \$S00 for shipping costs related to the March 2 imventory purchave. - March 5 - Sold irventory, costing $6,000, to a customer for $10,000 retail price. Credit terms 1/15, n/40, FOB shipping point. - March 7 - Cranted a $1,000 retum against a custorner's account retating to the March 5 sale of inventory, Cost of inventory was $600. - March 10 - Returned $1,300 of defective inventory related to the March 2 purchase for an account credit. - March 15 - Pald the balance of the account owed from the March 2 purchase. - March 20 - Recelved paryment of the net batance from the March 5 sale of imventory