Prepare a schedule that shows the impact of these transactions on Watt's Inventory account. Use the following headings:

Journal Entries for Merchandise Transactions on Seller's and Buyer's Books- Perpetual System The following transactions occurred between the Decker Company and Mann Stores, Inc., during March: Mar. 8 Decker sold $18,200 worth of merchandise ($13,800 cost) to Mann Stores with terms of 2/10, n/30. 10 Mann Stores paid freight charges on the shipment from Decker Company, $250. 12 Mann Stores returned $1,250 of the merchandise ($850 cost) shipped on March 8. 17 Decker received full payment for the net amount due from the March 8 sale. 20 Mann Stores returned goods that had been billed originally at $500 ($400 cost). Decker issued a check for $490. Required Prepare the necessary journal entries for (a) the books of Decker Company and (b) the books of Mann Stores, Inc. Assume that both companies use the perpetual inventory system. Sellers journal entries Buyer's journal entries DECKER COMPANY GENERAL JOURNAL Date Description Debit Credit Mar. 8 Accounts Receivable $ Ox $ Sales Revenue 0 O X Sold goods to Mann Stores terms 2/10, n/30. 8 Cost of Goods Sold O X Inventory V O X Cost of goods sold to Mann Stores. 12 Sales Returns and Allowances O X O V Accounts Receivable OV OX Issued credit memo to Mann Stores for returned goods. 12 Inventory O X Cost of Goods Sold 0 > Cost of goods returned by Mann Stores. 17 Cash 0 x 0 Sales Discounts + V 0 x Accounts Receivable 4 V 0 OX Received payment in full from Mann Stores. 20 Sales Returns and Allowances * v 0 x OV Sales Discounts - V O V O X Cash OV O X Paid Mann Stores for returned goods. Inventory 0 x OV Cost of Goods Sold 0 x Cost of goods returned by Mann Stores.Journal Entries for Merchandise Transactions on Seller's and Buyer's Books- Perpetual System The following transactions occurred between the Decker Company and Mann Stores, Inc., during March: Mar. 8 Decker sold $18,200 worth of merchandise ($13,800 cost) to Mann Stores with terms of 2/10, n/30. 10 Mann Stores paid freight charges on the shipment from Decker Company, $250. 12 Mann Stores returned $1,250 of the merchandise ($850 cost) shipped on March 8. 17 Decker received full payment for the net amount due from the March 8 sale. 20 Mann Stores returned goods that had been billed originally at $500 ($400 cost). Decker issued a check for $490. Required Prepare the necessary journal entries for (a) the books of Decker Company and (b) the books of Mann Stores, Inc. Assume that both companies use the perpetual inventory system. Sellers journal entries Buyer's journal entries MANN STORES GENERAL JOURNAL Date Description Debit Credit Mar. 8 Inventory v $ 0 x $ OV Accounts Payable V 0 O X Purchase goods from Decker Company terms 2/10, n/30. 10 Inventory O X OV Cash 0 X Paid freight charges on Decker shipment. 12 Accounts Payable X OV Inventory OV O X Received credit memo for goods returned to Decker Company. 17 Accounts Payable 0 X O V Inventory V OV O X Cash OV O X Paid Decker Company in full. 20 Cash x O V Inventory OV 0 X Received check for goods returned to Decker Company