Need help with question 2 and 3

2. How are purchases of merchandise inventory recorded in a perpetual inventory system? Using the perpetual system, Journalize for: a) the purchase of merchandise inventory of $1,000 on account with the terms of 2/10 or n/30; b) t a) he payment of the merchandise inventory within the discount period. Date Accounts and Explanation Debit Credit b) Using the perpetual system, Journalize for: a) the purchase of merchandise inventory of S1.000, with related freight charge of $100, on account with the terms of 2/10 or n/30. Terms of shipment are FOB shipping point and the seller prepays the freight charge; b) the payment of the merchandise inventory within the discount period. Date Accounts and Explanation 3. How are sales of merchandise inventory recorded in a perpetual inventory system? a) Using the perpetual system, Jounalize for: a) the sale of merchandise inventory of $1,000 on account with the terms of 2/10 or n/30. Cost of goods sold is $550; b) the customer makes payment within the discount period. Date Accounts and Explanation Debit Credit 4. How are merchandiser's financial statements prepared? a) Briefly describe the difference between the single-step and multi-step income statement