RT-MART entered into the transactions listed below. Prepare RT-MARTs necessary entries assuming the use of: (1) perpetual inventory system, and (2) periodic inventory systems.

Question I. RT-MART entered into the transactions listed below. Prepare RT-MART's inventory systems July 6 Purchased $1,800 of merchandise on credit, terms n/30 e use O 8 rned $100 of the items purchased on July 6. 9 Paid freight charges of $90 on the items purchased July 6. 19 Sold merchandise on credit for $5,400, terms 1/10, n/30. The merchandise had an inventory cost of $2,700. Of the merchandise sold on July 19, $300 of it was returned. The items had cost the store $150. Received payment in full from the customer of July 19. Paid for the merchandise purchased on July 6. 22 28 31