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Refer to the following merchandising transactions for Scout Systems. Nov . 1 Scout Systems purchases merchandise for $ 4 , 6 0 0 on credit

Refer to the following merchandising transactions for Scout Systems. Nov.1Scout Systems purchases merchandise for $4,600 on credit with terms of 1/10, n/30.5Scout Systems pays for the previous purchase. 7Scout Systems receives payment for returned defective merchandise of $500 that was purchased on November 1.10Scout Systems pays $420 to transport merchandise to its store. 13Scout Systems sells merchandise for $6,700 on account. The cost of the merchandise was $4,400.16A customer returns merchandise from the November 13 transaction. The returned item sold for $1,220 and cost $800. The item will be returned to inventory.a. Journalize the above transactions for Scout Systems assuming a periodic system. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)b. Journalize the above transactions for Scout Systems assuming a perpetual system.

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