Prepare journal entries to record the transactions, assuming Donkeys Retail Store uses a perpetual inventory system.

Nov. 20 28 Sold two items of merchandise to Billy, who paid the $1,000 sales price in cash. The goods cost Donkey's $800. Sold 10 identical items of merchandise to DRV's Gym at a selling price of $10,000 (total); terms 1/10, n/30. The goods cost Donkey's $7,000. DRV's Gym returned two of the items purchased on the 28th. The item was in perfect condition and credit was given to the customer. DRV's Gym paid the account balance in full. 29 Dec. 6 Debit Credit Effect Net Sales