The following information was presented by the bookkeeper for King's Arboretum Supplies for the month of August 2018 Aug Purchased $105,500 of inventory on account, terms 2/10, net 30 2 Aug Paid $490 cash for freight bill for transportation of inventory purchased 3 Aug Sold $79,400 of products to Mudder Waters on account terms 2/10, net 30; cost of goods sold 4 $31,760. Aug Paid for inventory bought on Aug 2, less $2,110 discount. 6 Aug One of King's clients, Water's Inc., returned $1,090 of goods purchased on account. The cost of 7 goods sold for returned inventory is $654. Required Prepare the journal entries to record the above transactions. Assume the company uses the perpetual inventory system. Do not enter dollar signs or commas in the input boxes. For transactions that have 2 debits or 2 credits, enter the accounts in alphabetical order. Date Account Title and Explanation Debit Credit Aug 2 . Purchase inventory on account Aug 3 Paid freight bill Aug 4 . Record sales on account Aug 4 Record cost of goods sold for above sale Aug 6 .