Cullumber Stores is a new company that started operations on March 1, 2024. The company has decided to use a perpetual inventory system. The following purchase transactions occurred in March: Mar. Cullumber Stores purchases $9,100 of merchandise for resale from Octagon Wholesalers, terms 2/10,n/30, FOB 1 shipping point. 2 The correct company pays $160 for the shipping charges. 3 Cullumber returns $1,200 of the merchandise purchased on March 1 because it was the wrong colour. Octagon gives Cullumber a $1,200 credit on its account. 21 Cullumber Stores purchases an additional $14,000 of merchandise for resale from Octagon Wholesalers, terms 2/10, n/30,FOB destination. 22 The correct company pays $195 for freight charges. 23 Cullumber returns $400 of the merchandise purchased on March 21 because it was damaged. Octagon gives Cullumber a $400 credit on its account. 30 Cullumber paid Octagon the amount owing for the merchandise purchased on March 1. 31 Cullumber paid Octagon the amount owing for the merchandise purchased on March 21