Problem #4-Purchase and Sales Transactions- PERPETUAL Inventory System (14 pts) Shyanne Enterprises uses a PERPETUAL inventory system and had the following purchases and sales transactions during August of the current year. ug 5 Purchased merchandise on from Danny Company under the following terms:51,500 price, credit terms 2/10, n/30 and FOB shipping point. Aug 6 Sold merchandise on account to Girlie Girl Inc under the following terms $1,000 price, credit terms 2/10, n/30 and FOB destination. The cost of merchandise sold was $700. Aug 8. Paid $300 for shipping charges on Aug 5 purchase. Aug 12 Received cash for amount due from Girlie Girl Inc. for sale on Aug 6. Aug 13 Returned $300 of merchandise purchased on Aug 5th from Danny Company Aug 14 Paid balance less discount on merchandise purchased from Danny Company Instructions: On the general journal that is provided, prepare journal entries for Shyanne Ente under the PERPETUAL inventory system. Journal explanations and posting references required. DREPARE YOUR WORK