Question 1 Not complete Marked out of 1.00 Flag question Journal Entries for Merchandise Transactions on Seller's and Buyer's Books- Perpetual System The following transactions occurred between the Decker Company and Mann Stores, Inc., during March: Mar. 8 Decker sold $16,200 worth of merchandise ($12,100 cost) to Mann Stores with terms of 2/10, n/30. 10 Mann Stores paid freight charges on the shipment from Decker Company, $230. 12 Mann Stores returned $1.200 of the merchandise ($830 cost) shipped on March 8. 17 Decker received full payment for the net amount due from the March 8 sale. 20 Mann Stores returned goods that had been billed originally at $900 ($710 cost). Decker issued a check for $882. Required ho Prepare the necessary journal entries for (a) the books of Decker Company and (b) the books of Mann Stores, Inc. Assume that both companies use the perpetual invent- system. Sellers journal entries Buyer's journal entries DECKER COMPANY GENERAL JOURNAL Description Debit Credit Date $ Mar. 8 Sold goods to Mann Stores terms 2/10, 1/30. 8 Cost of goods sold to Mann Stores. 12 Issued credit memo to Mann Stores for returned goods. 12 Cost of goods returned by Mann Stores. 17 Cash + Received payment in full from Mann Stores. Cash Paid Mann Stores for returned goods. MANN STORUS GINTRAL JOURNAL Description Debit Credit Purchase Boods from Berker Company m 2/10, 1/30 10 Received credit memo for goods returned to Decker company 17 Paid Decker Company in full 20 Received check for goods returned to Decker Company, Check Save Answers