Prepare journal entries to record the following sales transactions in Cullumber Company's books. Cullumber uses a perpetual inventory system. Jan. 2 Cullumber sold $14,000 of merchandise to Xiaoyan Company, terms n/30, FOB shipping point. The cost of the merchandise sold was $5,530. 4 The correct company paid freight costs of $175. 6 Xiaoyan returned $1,400 of the merchandise purchased on January 2 because it was not needed. The cost of the merchandise returned was $550, and it was restored to inventory. Feb. 1 Cullumber received the balance due from Xiaoyan