Presented below are two independent situations. Assume each company uses a periodic Inventory system. 1. On January & Bow Ca sells merchandise on account lo Pryor Company for $7,01%), terms 2/10, n 30. On January 16, Pryer Company pays the amount due. 2. On January 10, D. Laskowski purchases $9,000 of merchandise from Paltrow Co., terms 2/10, 0:30. D. Laskowski returns &&00 of merchandise to Paltrow on January 15. Paltrow Ca charges its customers 15. per month on orerduc amounts. On March 10, Paltrow records interest on D. Laskowski's past due account On March 31, D. Laskowski pays his account in full. InstrHGIONS la for item 1. prepare the entrics on January 6 and January 16 on Bow Co's books (b) For item 2. prepare the entries required on January 10. January 15, March 10, and March 3l on Paltrow Company's books