Review the following situations and record any necessary journal entries for Letter Depot. Mar. 9 Letter Depot purchases $11,460 worth of merchandise on credit from a manufacturer. Shipping charges are an extra $480 cash. Terms of the purchase are 2/10, n/40, FOB Destination, invoice dated March 9. Mar. 20 Letter Depot sells $7,560 worth of merchandise to a customer who pays on credit. The merchandise has a cost to Letter Depot of $2,880. Shipping charges are an extra $440 cash. Terms of the sale are 3/15, n/50, FOB Destination, invoice dated March 20. If an amount box does not require an entry, leave it blank. Assume the perpetual inventory system is used. Mar. 9 Merchandise Inventory Mar. 20 Sale on credit Mar. 20 Cost of sale Mar. 20 Shipping charges Cash Merchandise Inventory Cash B