uentes Company

a$.$ Sold merchandise on account to Lowe Company, $$1,500$; terms $2/10,$ n$/30.$

b$.$ Issued a credit memo to Lowe Company for damaged merchandise, $$100.$

c$.$ Lowe Company paid the account in full within the discount period.

Lowe Company

a$.$ Purchased merchandise on account from Fuentes Company, $$1,500$; terms $2/10,$ n$/30.$

b$.$ Received a credit memo from Fuentes Company for damaged merchandise, $$100.$

c$.$ Paid Fuentes Company in full within the discount period.

Required:

Record the above transactions in general journal form on the books of the seller $($Fuentes Company$)$ and then on the books of the buyer $($Lowe Company$)$ using the periodic inventory system.