The following information is available for the Johnson Corporation: Beginning inventory Inventory purchases (on account) Freight charges on purchases (paid in cash) Inventory returned to suppliers (for credit) Ending Inventory Sales (on account) Cost of inventory sold $ 27,000 157,000 12,000 14,000 32,000 252,000 150, eee Required: Applying both a perpetual and a periodic inventory system prepare the journal entries that summarize the transactions that created these balances, include all end-of-period adjusting entries indicated. Complete this question by entering your answers in the tabs below. Perpetual System Periodic System Applying a perpetual inventory wstem, prepare the journal entries that summarize the transactions that created these balances. Include wil end-of-period adiustina entries indicated. (If no entry is required for a transaction/event, select "No lournal entry required in the first Journal entry worksheet 2 3 4 5 6 > Record merchandise purchased on account for $157,000. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general journal Perpetual System Periodic System Applying a periodic Inventory system, prepare the journal entries that summarize the transactions that created these balance all end-of-period adjusting entries indicated. (If no entry is required for a transaction/event, select "No journal entry required account field.) View transaction list Journal entry worksheet 1 2 5 6 Record merchandise purchased on account for $157,000. Note: Enter detits before credits Transaction General Journal Debit Credit