Peaceful Palace Gift Shop uses a perpetual inventory system. Journalize the following transactions for Peaceful Palace Gift 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 icon to view the transactions.) Transactions Feb. 3 Purchased $2,900 of inventory on account under terms 1/10, n/EOM and FOB shipping point. 7 Returned $800 of defective merchandise purchased on February 3. 9 Paid freight bill of $300 on February 3 purchase. 10 Sold inventory on account for $4,500. Payment terms were 3/15, n/30. These goods cost the company $2,250. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. 28 Received cash from February 10 from the customer in full payment of their account