pare general journal entries to record the following perpetual system merchandising trans for each receivable and payable, for example, record the purchase is of Belton Company. Use a separate account for each receivable and plent. C the Chandise from Jones Compy for $14,800 under credit terms of 1/15,n/30, FOB factory. July 1 Purchased merchandise from fon for $2,600 under credit terms of 2/10,n/60, FOB shipping point. The merchandise 3 Paid S450 for freight charges on the purchase of July 1. had cost 51,950 . Sold merchandise that cost $3,825 for $5,100 cash. Purchased merchandise from Keene Co. for $9,100 under credit terms of 2/15,n/60, FOB destination. Received a $1,500 credit memo acknowledging the return of merchandise purchased on July 9 . Received the balance due from Terra Co. for the credit sale dated July 2. Purchased office supplies from EastCo on credit, 5960,n/30. Paid the balance due to Jones Company. Sold merchandise that cost $2,850 to Urban Co. for $3,800 under credit terms of 2/15,n/60, FOB shipping point. lssued a 5300 credit memo to Urban Co. for an allowance on goods sold on July 19. Received a debit memo from Urban Co. for an error that overstated the total invoice by \$200. Paid Keene Co. the balance due. Received the balance due from Urban Co. for the credit sale dated July 19. Sold merchandise that cost $7,500 to Terra Co. for $10,000 under credit terms of 2/10,n/60, FOB shipping point