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Perpetual and Periodic Systems-Recording Inventory-Related Entries using the Net Method The following transactions all relate to Sharper Inc.'s purchase of merchandise inventory on December 10. 1. Purchased inventory on December 10 with a list price of $9,750, a trade discount of 20%, and with terms 2/10, n/30. 2. Returned $1,300 of inventory to the supplier on December 15. 3. Reduced accounts payable by $5,200 due to a $5,200 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 company uses the perpetual inventory system and the net method to recd purch. 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 record purchases. nclude any adjusting entry required on December 31