Prepare journal entries, for the following transactions: Sarah Company engaged in the following transactions in July 2014. July 3 Purchased merchandise on credit from Angel Company, terms n/30, FOB shipping point, $3,800. July 5 Paid Speed Freight for freight charges on merchandise received, $290. $3,680 . /30, FOB shipping point, $3,600, which includes $200 freight costs paid by Expo Supply Company, July 12 Returned some of the merchandise purchased on July 3 for credit, $600. Suly 15 sold merchandise on credit to Tom Kowalski, terms n/30, FOB shipping point, $1,200 (cost, $720) July 17 Sold merchandise for cash, $1,000 (cost, $600) cost , S.Accepted for full credit a return from Chi Dong and returned merchandise to inventory, $200 ($120) July 24 Paid Angel Company for purchase of July 3 less return of July 12. Duly 25 Received check from Chi Dong for July 1 purchase less the return on July 18. Part Three. Prepare entries that would be found in a period inventory system. Part Four. Prepare entries that would be found in a perpetual inventory system. a