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 $ 41,000 171,000 26,000 28,000 46,000 266,000 164,000 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. X Answer is not complete. Complete this question by entering your answers in the tabs below. Perpetual System Periodic System Applying a periodic inventory system, prepare the journal entries that summarize the transactions that created these balances. Include all end-of-period adjusting entries indicated. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Transaction General Journal Debit Credit No 1 1 171,000 Purchases Accounts payable 171,000 2 2 26,000 Freight-in Cash 26,000 3 28,000 Accounts payable Purchase returns 28,000 4 4 266,000 Accounts receivable Sales revenue 266,000 5 5 164,000 Inventory (beginning) Cost of goods sold 164,000 6 6 46,000 Cost of goods sold Inventory (ending) 46,000 journal entry required" in the first account field.). No General Journal Debit Credit Transaction 1 1 171,000 Inventory Accounts payable 171,000 N 2 26,000 Inventory Cash 26,000 3 3 28,000 Accounts payable Inventory 28,000 4 4 266,000 Accounts receivable Sales revenue 266,000 5 5 164,000 Cost of goods sold Inventory 164,000 6 6 X 46,000 Cost of goods sold Inventory Purchase returns 46,000