* My Subscriptions Em Business Course # Return to course Journal Entries for Merchandise Transactions on Seller's and Buyer's Books Perpetual System The following transactions occurred between the Decker Company and Mann Stores, Inc., during March: Mar. 8 Decker sold $16.200 worth of merchandise $12,100 cost) to Mann Stores with terms of 20,30 10 Mann Stores paid freight charges on the shipment from Decker Company, $230 12 Mann Stores returned $1,200 of the merchandise (5830 cost) shipped on March 17 Decker received full payment for the net amount due from the March 8 sale 20 Mann Stores returned goods that had been billed originally at $900 (5710 cos Decker issued a check for SRA? Required Prepare the necessary journal entries for (a) the books of Decker Company and (b) the books of Mann Stores, Inc. Assume that both companies use the perpetual inventory system. Sellers journal entries Buyer's journal entries Credit Debit 16,200 S DECKER COMPANY GENERAL JOURNAL Description 8 Accounts Receivable Sales Revenge Sold goods to Mann Stores terms 2/10,30 B Cost of Goods Sold Inventory Cost of goods sold to Mann Stores 12 Sales Returns and Allowances Accounts Receivable Issued credit memo to Mann Stores for returned rood 12 Inventory Cost of Goods Sold Cost of goods returned by Mann Stores Cash Sales Discounts RECUMS Receivable 1100 MacBook Air