Perpetual and Periodic Systems-Recording Inventory-Related Entries using the Net Method The following transactions all relate to Sharper inci's purchase of merchandise inventory on December 10. 1. Purchased inventory on December 10 with a list price of $11,250, a trade discount of 20%, and with terms 2/10, n/30. 2. Returned $1,500 of imventory to the supplier on December 15. 3. Reduced accounts payable by $6,000 due to a $6,000 cash payment to the supplier on December 19 ; this payment was within the cash discount period. 4. Paid the remaining balance to the supplier on january 5 of the following year. a. Prepare journal entries for the transactions 1 through 4 , assuming that the compary uses the perpetual inventory system and the net method to record purchases. Include any adjusting entry required on December 31. Note: Round answers to the nearest dollar. b. Prepare journal entries for the transactions 1 through 4, assuming that the company uses the periodic inventory system and the net method to recorc purchases. Include any adjusting entry required on December 31