Record the journal entries for the following transactions using the perpetual method of accounting for inventory: One May 3-2020 ABC Company buys $3,000 of merchandise on account F.O.B. destination. The shipping costs were $500. Goods were shipped on May 5, 2020 and arrived on May 8, 2020. On May 10th ABC Company is granted a $500 cost allowance for some damaged goods. On May 15th ABC Company pays the invoice. On June 30, 2020 ABC sells all of this merchandise for $ 25,000. I