Sales and Purchase-Related Transactions for Seller and Buyer Using Perpetual Inventory System. The following selected transactions were completed during Apnil between 5 wan Company and Bird Company, Both companies use the net method under a perpetual inventory system Apr. 2. Swan Compan sold merchandise on account to Bird Company, $56,500, terms foB ahpping point, 2/10, n/30. Swan paid freight of $1,790, which was added to the invoice. The cost of the goods sold was $37,290. 8. Swan Compony sold merchandise on account to eird Company, $47,300, terms FOB destination, 1/15, n/eom. The cost of the goods soid was 528,020 8. Swan Company paid freight of $1,230 for delivery of merchandise sold to Bird Company on April 6. 12. Bird Company paid Swan Company for purchare of April 2 . 23. Bird Company pald Swan Company for purchase of April 9 . 24. Swan Company sold merchandise on account to Bird Company, $72,360, terms FOB shipping point, Neom, The cost of the goods sold was $42,130. 25: Swan Comparyy peid Bird Company a cash refund of 52,520 for damaged merchandise in the Aprit 8 sale. Bird Company kept the merchandise. 26. Bird Company paid freight of $800 on Apni 24 purchase from Swan Company. 30. Bird Company paid Swan Company on account for purchase of Aprit 24. 1. Joumailae the Apri tranactions far swan company ithe ueluff, it an amount box does not requate an entry. lefre it poiei