Using the Chart of Accounts above, identify the DEBIT AND CREDIT ACCOUNTS to be used for the transactions below. You will NOT be filling in the amounts for any of the transactions. It is possible that you will have MORE THAN ONE debit or credit entry for a transaction. May 3 Purchased merchandise from Brighton Incorporated for $3 200, terms 2/10 n/30 FOB shipping point. May 4 The correct company paid 5300 freight on the May 3 purchase. May 6 Received $400 credit from Brighton Incorporated for returned merchandise May 8 Sold 100 units of merchandise for $1,700 on account terms 2/10 n/30, FOB destination May 10 The correct company paid $500 freight on the May 8 sale May 12 Paid Brighton Incorporated for the balance owing