People’s Discount sells medical supplies and purchases their merchandise from a manufacturer. Review the following transactions and prepare the entries if People’s Discount uses: A. the perpetual inventory system
B. the periodic inventory system

Apr. 7 People’s Discount purchases 50 medical stands on credit at a purchase price of $15 per stand. The terms of the purchase are 5/10, n/45, with an invoice date of April 7.
Apr. 11 People’s Discount returns 18 stands to the manufacturer for a full refund.
Apr. 17 People’s Discount pays in full for the remaining stands, less the return.