QUESTION 8 1. Journalize the following transactions for Armour Inc. using both the periodic inventory system and the perpetual inventory system, presented in the side-by-side format of the form provided below. Oct. Sold $1,200 of merchandise on credit to Rondo Distributors, terms n/30, the cost of the merchandise was $720. Oct. 8 Purchased merchandise, $10,000; terms FOB shipping point and 2/15, 1/30; with prepaid freight charges of $525 added to the invoice. PERIODIC INVENTORY Description PERPETUAL INVENTORY Description DR CR CR DR CR PERIODIC INVENTORY Description PERPETUAL INVENTORY CRL Description DR DE