Problem 3 Ceres Computer Sales uses the perpetual inventory system and had the following transactions during December. Dec 1 Sold merchandise on credit for $5,000, terms 3/10, n/30. The items sold had a cost of $3,500. Purchased merchandise for cash, $720 Purchased merchandise on credit for $2,600, terms 1/20, n/30. Issued a credit memorandum for $300 to a customer who returned merchandise purchased November 29. The returned items had a cost of $210 Received payment for merchandise sold December 1. Received a credit memorandum for the return of faulty merchandise purchased on December 4 for $600. 3 4 5 11 15 18 Paid freight charges of $200 for merchandise ordered last month (FOB 23 Paid for the merchandise purchased December 4 less the portion that was 24 31 shipping point) returned Sold merchandise on credit forS of $4.900. Received payment for merchandise sold on December 24 7.000, terms 2/10. n/30. The items had a cost Required Prepare the general journal entires to record these transactions