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Question 6 The following merchandise transactions occurred in December. Both companies use a perpetual inventory system. Dec. 3 Cullumber Company sold merchandise to Thomas Co. for $34,000, terms 2/10, n/30, FOB destination. This merchandise cost Cullumber Company $18,000. 4 The correct company paid freight charges of $825. 8 Thomas Co. returned unwanted merchandise to Cullumber. The returned merchandise had a sales price of $2,400 and a cost of $990. It was restored to inventory. 13 Cullumber Company received the balance due from Thomas Co.Prepare the journal entries to record these transactions on the books of Cullumber Company. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record sales) (To record cost) (To record credit granted for returned goods) (To record the cost of the return) Dec. 13Prepare the journal entries to record these transactions on the books of Thomas Co. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTSAssuming that Thomas Co. had a balance in Merchandise Inventory on December 1 of $6,000, determine the balance in the Merchandise Inventory account at the end of December for Thomas Co. (Post entries in the order of journal entries presented in the previous part.) Merchandise Inventory