Question Eight: (17 Marks) Selected transactions follow for Italy Ltd. during the company's first month of business. The company uses a perpetual inventory system. (a) Under each transaction prepare the appropriate Journal entry on the books of ITALY Ltd. Only. Feb 2: Sold $2,240 of merchandise to Canada Inc. on account terms, n/30. The goods had a cost to Italy of $1000 Feb 4: Canada Inc returned $200 of the merchandise purchased on Feb 2. The goods had cost Italy $50 and were returned to inventory. Feb 5: Sold $760 of merchandise to Sweden Inc on account, terms 2/10 n/30. The goods had cost Italy $250 Feb 8: Sold $900 of merchandise to Japan Inc for cash. The goods had cost Italy Inc $400 Feb 14: Sweden Inc paid its account in full Feb 17: Canada Inc purchased an additional $1000 merchandise on account, terms n/30. The goods cost Italy $300 Feb27: Canada paid $1,000 on account. (b) On February 28h what is the amount owed to Italy from Canada Corp? (c) On February 28h what is the amount owed to Italy from Japan Inc? (d) On February 28", what is the amount owed to Italy from Sweden Inc