Problem 4 - Merchandising Business. Fabulous Co. is a merchandising company. It held the following transactions during March 2019: March 7 Selling goods on account to Great Co. for $7,820 with the credit term of 2/10, n/30. The cost of goods sold is $6,076. March 8 Receiving goods returned by Great Co. from the transaction held on March 7, 2019 for $1,450. The cost of goods returned is $1,175. March 15 Receiving cash from Great Co. for the transaction held on March 7, 2019. March 18 Purchasing goods on account from Terrific Co., $4,520, FOB Shipping Point, the credit term is 3/10, n/30 and paying transportation cost for $500 by cash. March 28 Doing payment to Terrific Co. for the goods purchased on March 18, 2019. Prepare the Journal Entries of those transactions using Perpetual System