PLEASE CAN YOU SHOW THIS PROBLEM VERY CLEARLY AND STEP BY STEP SO I CAN UNDERSTAND IT.

PLEASE SHOW THIS PROBLEM VERY CLEARLY

Knick knacks & More, a retail store, processed the following transactions yesterday Purchased $6,000 of inventory on account and paid $300 cash for corresponding freight charges. Returned $500 of the merchandise purchased above. Inventory costing $2,500 was sold for $3,600. . a. Assuming a periodic inventory system, prepare the necessary journal entries to record these transactions. b. Assuming a perpetual inventory system, prepare the necessary journal entries to record these transactions