The Lane Electric Company uses the perpetual inventory system. Record these transactions in a two-column journal.
201X
Feb. 3 Purchased 35 Model 77DX light fixtures on account from Flashing Electric at total cost of $1,400; terms n/30.
5 Sold 7 model U67 light fixtures for cash for $196 total. The cost of these 7 fixtures amounted to $126.
6 Our customer returned 3 model U67 light fixtures. We gave the customer an $84 cash refund.
10 We issued a debit memo for $320 to Flashing Electric for 8 model 77DX light fixtures that came in damaged in the shipment of February 3.