Pharmaceutical Supplies sells medical supplies and purchases their merchandise from a manufacturer. Review the following transactions and prepare the journal entry or entries if Pharmaceutical Supplies uses
A. The perpetual inventory system
B. The periodic inventory system

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Apr. 7 Apr. 11 Apr. 17 Pharmaceutical Supplies purchases 50 medical stands on credit at a purchase price of $15 per stand. The terms of the purchase are 5/10, n/45, with an invoice date of April 7. Pharmaceutical Supplies returns 18 stands to the manufacturer for a full refund. Pharmaceutical Supplies pays in full for the remaining stands, less the return.