Question 2 (12 points) Listen Question 2: Merchandising Journal Entries - 12 Marks Garcia Company uses the perpetual inventory system. The following is a list of selected transactions for the month of August, 2019. Aug. terms: 1 Purchased merchandise from Weir Company for $25,000, on account, 1/10, n/45, FOB shipping point. (1 mark) 2 Paid $300 for freight charges on the purchase of August 1. (1 mark) 3 Returned merchandise purchased on August 1 from Weir that cost $1,200. (1 mark) 4 Sold merchandise to Cassidy Corp. for $3,800 on account, terms: 2/10, n/60, FOB shipping point. The merchandise cost $1,700. (2 marks) 7 Sold merchandise that cost $500 for $900 cash. (2 marks) 8 Paid the balance due to Weir Co. (2 marks) 11 Cassidy Corp. returned $200 of merchandise from the August 4 sale. The merchandise, valued at $110, was returned to inventory. (1 mark) 14 Received the balance due from Cassidy Co. (2 marks) MacBook Pro 4 Sold merchandise to Cassidy Corp. for $3,800 on account, terms: 2/10, n/60, FOB shipping point. The merchandise cost $1,700. (2 marks) 7 Sold merchandise that cost $500 for $900 cash. (2 marks) 8 Paid the balance due to Weir Co. (2 marks) 11 Cassidy Corp. returned $200 of merchandise from the August 4 sale. The merchandise, valued at $110, was returned to inventory. (1 mark) 14 Received the balance due from Cassidy Co. (2 marks) REQUIRED: Record journal entries for the transactions above. Explanations are NOT required. For any transactions that require calculations, show them in the space where explanations usually appear Question 3 (5 points)