Please make accounting entries for the following perpetual inventory transactions (please also show me calculation if there is amount you need to calculate): 1. Jan 1, 2018 Business purchased $3,200 of inventory from MCA Inc. paid in cash 2. Jan5, 2018 Business bought $2,250 of inventory from Penny's Inc., money will be paid in the future 3. Jan7, 2018 Business purchased inventory $3,550 from Caroline Enterprise, the money will be paid in the future 4. Jan 10, 2018 Business sold $5,300 inventory to Barret's Ltd, the cost is $1,100, the money will be received in the future. 5. Jan 12, 2018 Business found defective products and return $200 inventory to Penny Inc. 6. Jan 16, 2018 Business paid Caroline enterprise in full. 7. Jan17, 2018 Business received money in full from Barret's Ltd 8. Jan21, 2018 Business paid Penny's Inc in full.