Question: Plz Solve it and explain elaborately. Thanks Required: Journalize the following merchandise transactions for Boys and Girls Club assuming a. A periodic system, and b.

Plz Solve it and explain elaborately. Thanks

Required: Journalize the following merchandise transactions for Boys and Girls Club assuming a. A periodic system, and b. A perpetual system Nov 01 Boys and Girls Club purchases inventory for $4,400 on credit with terms of 2/10, n30. Shipping costs amounted to $400. FOB shipping point Nov 05 Boys and Girls Club pays for the previous purchase Nov 07 Boys and Girls Club receives a payment for returned defective inventory of $500 that was purchased on Nov 01 transport Nov 13 Boys and Girls Club sells inventory for $6,500 on account. The cost of the merchandise was $4,200 Nov 16 A customer returns inventory from Nov 13 transaction. The returned item sold for $2,200 and cost $780. The item will be returned to inventory

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Go, do not wait until I come