Purchased merchandise on account from Paddington Co., list price $100,000, trade discount 15%, terms FOB destination point, 3/10, n/30, with freight cost is $1,000. May 7 Returned merchandise with an invoiced amount of $5,000 purchased on May 3. Paid Paddington Co. on account for purchase of May 3 less return made on May 13 May 7 May 15 Sold merchandise on account to Miwawi Co., $45,000, terms n/15. The cost of the goods sold was $30,000 Required: Journalize the transactions using the 1. perpetual system. (5.5 marks) periodic system. ( 5 marks)