Whispering Winds Ltd. and Ayayai Ltd. incurred the following merchandise transactions in June. June 10 Whispering Winds sold $5,900 of merchandise to Ayayai, terms n/30, FOB shipping point. The merchandise cost Whispering Winds $3,540 when it was originally purchased. Whispering Winds has historically experienced a return rate of 10%. 11 Freight costs of $295 were paid by the appropriate company. 12 Whispering Winds received damaged goods returned by Ayayai for credit. The goods were originally sold for $590; the cost of the returned merchandise was $354. The merchandise was not returned to inventory. 19 Whispering Winds received full payment from Ayayai. (a) Prepare journal entries for each transaction in the books of Whispering Winds Ltd., assuming (1) a perpetual inventory system is used, and (2) a periodic inventory system is used. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (1) Perpetual Inventory System Date Account Titles and Explanation Debit Credit (To record credit sale) (To record merchandise sold) |||| (2) Periodic Inventory System Date Account Titles and Explanation Debit Credit