Question 2 - Merchandising and Inventories Part 1: Chef Zinc. decides to use the perpetual inventory system. The following transactions happen during the month of January. Prepare journal entries to record all the entries. Jan. 4 Bought five deluxe mixers on account from Ninja Foodi Inc. for $2,875, FOB shipping point, terms n/30. 6 Paid $100 freight on the January 4 purchase. 7 Returned one of the mixers to Ninja Foodi Inc because it was damaged during shipping. Ninja Foodi Inc. issues Chef Z Inc. credit for the cost of mixer plus $20 for the cost of freight that was paid on January 6 for one mixer. 8 Collected $375 of the accounts receivable from December 2020. 12 Three deluxe mixers are sold on account for $3,450, FOB destination, terms n/30. (Cost of goods sold is $595 per mixer.) 14 Paid the $75 of delivery charges for the three mixers that were sold on January 12. 14 Bought four deluxe mixers on account from Cusinart Supply Co. for $2,300, FOB shipping point, terms n/30. 2 (Part 1)