PR 5-4B Sales and purchase-related transactions for seller and buyer using perpetual inventory system Obj. 2 The following selected transactions were completed during April between Swan Company and Bird Company: Apr. 2. Swan Company sold merchandise on account to Bird Company, $32,000, terms FOB shipping point, 2/10 n/30. Swan paid freight of $330, which was added to the invoice. The cost of the goods sold was $19,200. 8. Swan Company sold merchandise on account to Bird Company, $49,500, terms FOB destination, 1/15, n/eom. The cost of the goods sold was $29,700. 8. Swan Company paid freight of $710 for delivery of merchandise sold to Bird Company on April 12. Bird Company paid Swan Company for purchase of April 2. 23. Bird Company paid Swan Company for purchase of April 8. 24. Swan Company sold merchandise on account to Bird Company, $67,350, terms FOB shipping point, n/eom. The cost of the goods sold was $40,400. 25. Swan Company paid Bird Company a cash refund of $1,200 for damaged merchandise in the April 8 sale. Bir Company kept the merchandise. 26. Bird Company paid freight of $875 on April 24 purchase from Swan Company. 30. Bird Company paid Swan Company on account for purchase of April 24. Instructions transactions for (1) Swan Company and (2) Bird Company