Part 1 of 7 Points: 0 of 1 Save Peaceful Palace Gift Shop uses a perpetual inventory system. Journalize the following transactions for Peace Palace Get Shop Explanations are not required (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar) (Click the loon to view the transactions) Feb 3. Purchased $2,600 of merchandito inventory on account under terra 210, IVEOM and FOB shipping point from silo's Goods Date Accounts Debit Credit Fob, 3 of m More Info Feb. 3 Purchased $2,600 of merchandise inventory on account under terms 2/10, n/EOM and FOB shipping point from Silo's Goods, Feb. 7 Returned $800 of defective merchandise purchased on February 3. Feb. 9 Paid freight bill of $450 on February 3 purchase. Feb. 10 Sold merchandise inventory on account for $4,600 to Time Meditation. Payment terms were 1715, n/30. These goods cost the company $2,300. Feb. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. Feb. 28 Received cash from Time Meditation in full settlement of their debt