Review the following situations and record any necessary journal entries for Nine Lives Inc. Jan. 15 Nine Lives Inc. purchases $8,760 worth of merchandise with cash from a manufacturer. Shipping charges are an extra $355 cash. Terms of the purchase are FOB Shipping Point. Jan. 23 Nine Lives Inc. sells $4,580 worth of merchandise to a customer who pays with cash. The merchandise has a cost to Nine Lives of $3,520. Shipping charges are an extra $180 cash. Terms of the sale are FOB Destination. If an amount box does not require an entry, leave it blank. Assume the perpetual inventory system is used. Jan. 15 Purchase Jan. 15 Shipping charges Jan. 23 Sale with cash Jan. 23 Cost of sale Jan. 23 Shipping charges