Question #01 Marks : 11 From the following transactions of Mr. NK, pass necessary journal entries following both Perpetual system and Periodical system of valuing inventories. 1. Purchase form Mr. Rahman FOB shipping point Tk. 75,000.00, Terms of Purchase 2/10net 20. Freight Tk. 200.00 2. Cash Purchase FOB Destination Tk. 50,000.00 Freight Tk, 300.00 3. Cash Sales FOB Destination Tk. 30,000.00. COGS TK.23,500.00, Freight Tk. 150.00 4. Sold to Mr. Karin FOB Shipping Point, Tk. 50,000.00 COGS 45,000.00, Freight 800.00 Term 2/7 net 25 5. Paid Mr. Rahman within discount qualifying period. 6. Payment received from Mr. Karim within discount qualifying period 7. Goods returned to Mr. Rahman Tk. 5,000. 8. Goods worth Tk. 4,000 purchased on Cash returned to the seller 9. Received return from Mr. Karim worth of the goods being Tk. 2,000.00 10. Received return out of cash sales, worth being Tk. 2,000.00 11. Goods in inventory worth TK. 2,000.00 stolen