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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. Round all numbers to the nearest whole dollar. Check your spelling carefully and do not abbreviate.) (Click the icon to view the transactions.) More Info Feb. 3: Purchased $2,900 of merchandise inventory on account under terms 3 10, nEOM and FOB shipping point. Accounts Debit Date Credit Feb. 3 Purchased $2.900 of merchandise inventory on account under terms Feb. 3 3/10, n/EOM and FOB shipping point. 7 Returned S900 of defective merchandise purchased on February 3. 9 Paid freight bill of $500 on February 3 purchase. 10 Sold merchandise inventory on account for $4,200. Payment terms were 2/15, n/30. These goods cost the company $2,100. 12 Paid amount owed on credit purchase of February 3, less the return Feb. 7: Returned $900 of defective merchandise purchased on February 3. and the discount. Date Accounts Debit 16 Granted a sales allowance of S300 on the February 10 sale. Credit 23 Received cash from February 10 customer in full settlement of their Feb. 7 debt, less the allowance and the discoun Done Enter any number in the edit fields and then continue to the next

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