The following merchandise transactions occurred during December. Fiasco Incorporated uses a perpetuy inventory system. - On December 3, Fiasco Incorporated bought merchandise on account from Rippen Corp. for $60,000, terms 2/10,n/30. - On December 8 , Fiasco Inc, retumed $5,000 of merchandise to Rippen Corp - On December 10, Fiasco Inc. bought merchandise on account from Maho Corp. For $40,000, terms 2/10,n/20. - December 12, Fiasco Inc. paid Rippen Corporation for the amount owed. - On December 30, Fiasco Inc. paid Maho Corp. for the amount owed. REQUIRED: Prepare the joumal entries to record these transactions on the books of Fiasco Incorporated