The following transactions occurred in August:

Aug $1-$ Superior Seating Company buys merchandise on account from Cotton Company for $$1,000,$ terms $2/10,$ n$/30,$ FOB destination.

Aug $1-$The correct company pays freight charges of $$70.$

Aug $3-$ Superior Seating Company returns $$150$ of merchandise to Cotton Company and the goods are returned to inventory.

Aug $10-$Superior Seating Company pays the total amount owing.

Both companies use a periodic inventory system.

a$.$ Record Superior Seating Company$$s transactions.

b$.$ Record Cotton Company$$s transactions.