Oct. 1 |Sold merchandise to Seals Co. for $6,000 under credit terms of 2/10, n/30, FO merchandise had cost $5,000. The invoice was dated Oct. 1, and the merchand 2 Seals Co. returned $500 of the merchandise purchased on Oct. 1 because it had model. The merchandise had a cost of $300 5 |Purchased merchandise from Waller Co. for $16,000 under credit terms of 2/1; point. The invoice was dated Oct. 5, and the merchandise shipped on Oct. 5. 7 Paid $200 cash for shipping charges related to the Oct. 5 purchase. 20 Paid the amount due Waller Co 31 | Received the balance due from Seals Co. INSTRUCTIONS: Using proper formatting, prepare journal entries to record the abo transactions of XYZ Company, which applies the PERPETUAL IN Do NOT include explanations. NO ABBREVIATIONS. DATE ACCOUNT TITLE DEBIT CREDIT