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Grooving Giving Gift Shop uses a perpetual inventory system. Journalize the following transactions for Grooving...

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Grooving Giving Gift Shop uses a perpetual inventory system. Journalize the following transactions for Grooving Giving Gift Shop. Explanations are not required. (Record debits first, then credits. Exclude explanations from journal entries. Assume the company records sales at the net amount. Round all numbers to the nearest whole dollar.) (Click the icon to view the transactions.) Date Accounts Debit Credit Feb. 10 More info Feb. 12: Paid amount owed on credit purchase of February 3, less the return and the discount Date Accounts Debit Credit Feb. 12 Feb. 3 Purchased $2,900 of merchandise inventory on account under terms 1/10, n/EOM and FOB shipping point from Sascha's Nest. Feb. 7 Returned $400 of defective merchandise purchased on February 3. Feb. 9 Paid freight bill of $200 on February 3 purchase. Feb. 10 Sold merchandise inventory on account for $4,100 to Triton Wellness. Payment terms were 3/15, n/30. These goods cost the company $2,050. Feb. 12 Paid amount owed on credit purchase of February 3, less the return and the discount Feb. 28 Received cash from Triton Wellness in full settlement of their debt. Feb. 28: Received cash from Triton Wellness in full settlement of their debt. Date Accounts Debit Credit Feb. 28 Print Done

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