As of January 1, the ledger of Sparkles Gift Shop showed Cash $6,070. Inventory $5.400 and Owner's Capital of $11.470. The following transactions occurred during January Jan. 6 8 12 13 15 20 23 Purchased t-shirts from Ayayai Co. $2,300, terms 4/10,n/60. Paid freight on Ayayai Co. purchases $108. Received credit from Ayayai Co.for merchandise returned $500. Purchased magnets and other inventory on account from Glitter Sportswear Corporation $1.500, terms 2/10,n/30. Paid Ayayai Co. in full. Received credit from Glitter Corporation for merchandise returned $250. Paid Glitter Corporation in full. Account Titles and Explanation Debit Credit Inventory 2.300 Accounts Payable 2.300 Inventory 108 Cash 108 Accounts Payable 500 Inventory 500 Inventory 1,500 Accounts Payable 1,500 Accounts Payable 1.800 Cash 1,728 Inventory 72 Accounts Payable 250 Inventory 250 Accounts Payable 1.250 Cash 1,225 Inventory 25 Cash >