Soul Art Gift Shop uses a perpetual inventory system Journalize the following transactions for Soul Art Gift Shop. Explanations are not required. (Record debits first, the company records sales at the net amount. Round all numbers to the nearest whole dollar.) i (Click the icon to view the transactions.) Fob 9 Merchandise Inventory 400 Cash 400 Feb 10. Sold merchandise inventory on account for $4.700. Payment terms were 2/15, n/30. These goods cost the company $2.350. Begin by preparing the entry to journalize the sale portion of the transaction. Do not record the expense related to the sale. We will do that in the following step Date Accounts Debit Credit Feb. 10 Accounts Receivable Sales Revenue i More Info 3 Purchased $3,300 of merchandise inventory on account under terms 3/10, n/EOM and FOB shipping point. 7 Returned $900 of defective merchandise purchased on February 3. 9 Paid freight bill of $400 on February 3 purchase. 10 Sold merchandise inventory on account for $4,700. Payment terms were 2/15, n/30. These goods cost the company $2,350. 12 Paid amount owed on credit purchase of February 3, less the return and the discount. Feb. 28 Received cash from February 10 customer in full settlement of their debt. Print Done