QUESTION 7 Sony Company had the following transactions in December: Dec. 2 Sony purchased $300,000 merchandise inventory on account terms, 2/10, 1/30, FOB shipping point Dec. 4 Sony returned $70,000 of the merchandise purchased on Dec. 2 because it was defective Dec. 10 Sony paid the invoice dated Dec 2 less returns and discount Required: Prepare journal entries for these 3 transactions assuming Sony uses a perpetual inventory system