NAME 1. Journalize the following transactions for Jones on the attached general journal. Mr. Jones uses the perpetual inventory system. May 1: Jones purchased $2000 of merchandise on account, 1/10, May 4: Jones sold $1,500 of merchandise to Smith on account, 2/10. n/EOM. The cost of the merchandise was $900. May 6: Jones issued Smith a $200 credit for merchandise that was ret returned. The cost of the returned merchandise was $140. May 8: Jones returned the d efective merchandise to his supplier and received credit. ay 13: Jones received payment from Smith for the merchandise. May 15: Jones paid his supplier in full. Journalize the above transactions that apply to Smith on the same attached general journal. Mr. Smith uses the perpetual inventory system