Q-1) Daphne Merchandising Company Sparrow Company is a merchandising company buying and selling various types of body care and beauty products. During December 2020, the company engaged in the following merchandising transactions. Make the journal entries. December 3) Purchased merchandise $ 30,000, on account, FOB destination. December 8) Returned some defective goods, amounting $5,000. December 9) For some other defective goods, the seller made an allowance, $ 800. December 11) Purchased merchandise $ 52,000, on account, FOB shipping point, paid $ 580. December 15) Sold merchandise for $6,700, on credit, (Cost $ 4,000), FOB destination, paid $ 225. December 21) The buyer returned some merchandise (Selling price $1,300, cost $ 850), The buyer paid for the transportation. December 31) For some merchandise Daphne Company gave an allowance for 250. Required: Prepare the journal entries for the transactions listed above.