You are working as a summer intern for AAA Auditing, Inc. You have been asked to help resolve discrepancies noted in the audit for Dolfin Corporation, a retailer of specialty aquarium supplies.As a...

You are working as a summer intern for AAA Auditing, Inc. You have been asked to help resolve discrepancies noted in the audit for Dolfin Corporation, a retailer of specialty aquarium supplies.As a retail company, Dolfin Corporation uses the perpetual inventory system. To prepare for this assignment, you have been asked to review your knowledge of salesand purchase transactions by completing the following table.Consider the effect of each transaction on the three accounts listed, and identify which accounts are debited or credited. If not affected by the transaction, select "No Effect".  Inventory Estimated Returns Inventory Cost of Goods Sold Purchase of merchandise for resale Debit      Cash sale of merchandise Credit      Customer returns Debit      Yearly estimate for customer returns       Freight paid for merchandise purchased FOB shipping point Debit      Return of merchandise purchased for resale Credit      Freight paid for sales with FOB destination     No Effect  Sale on account Credit      Customer payment on account     No Effect  Payment of service fee for processing credit card sales