On Dec 2, Silver Limited (Silver) purchases merchandise for resale from Platinum Company (Platinum) with an invoice price of $36,000 and credit terms 2/15, n/90, FOB shipping point. The goods cost Platinum $22,000. On Dec 4, Silver pays shipping charges of $450 on Dec 2 purchase. On Dec 6, Silver returns unacceptable merchandise to Platinum that has an invoice price of $2,000. The retuned goods cost Platinum $1,100. On Dec 10, Sliver discovers that $1,000 of goods are damaged but are still of some use and, therefore, keeps the units. Platinum sends Silver a credit memorandum for $500 to compensate for the damage. On Dec15, Silver pays for the amount owed and Platinum receives it on the same day. (Both Silver and Platinum use a perpetual inventory system.) Required 1. Prepare journal entries that Platinum Company records for each transaction in December. 2. Prepare journal entries that Silver Limited records for each transaction in December. (No narration is required)