The following information is available for the Johnson Corporation for 2018: Beginning inventory $ 43,000 Merchandise purchases (on account) 173,000 Freight charges on purchases (paid in cash) 28,000 Merchandise returned to supplier (for credit) 30,000 Ending inventory 48,000 Sales (on account) 268,000 Cost of merchandise sold 166,000 Required: Applying both a perpetual and a periodic inventory system, prepare the journal entries that summarize the transactions that created these balances. Include all end-of-period adjusting entries indicated.